South Korea and Pakistan are likely to announce negotiations to clinch a free trade agreement (FTA) soon, according to a source familiar with the issue, The Korea Times reported on Sunday.
The Pakistani trade minister will visit Seoul this week to discuss the matter with his Korean counterpart, he told The Korea Times on condition of anonymity because he was not authorised to speak to the media regarding the issue.
If the two sides reach an agreement on details, he said, they would be able to announce the beginning of the talks shortly. Experts say the trade pact, if signed, will be a win-win for both countries. For instance, Pakistan faces steel production shortages, while Korea has been dealing with a production glut, they said.
This has been excerpted from a 7 June 2015 news item by Pakistan Today and is available in its entirety at: http://www.pakistantoday.com.pk/2015/06/07/business/korea-pakistan-likely-to-start-fta-negotiations/