China, South Korea sign trade pact
China and South Korea signed a bilateral free trade agreement, the largest bilateral FTA deal for China in terms of volume.
Under the agreement signed on Monday, China will abolish tariffs on 91 percent of all South Korean products within 20 years, while South Korea will eliminate tariffs on 92 percent of all goods from China.
The countries began talks in May 2012 covering 17 areas, including trade in goods and services, health care, entertainment, investment and trade rules, as well as e-commerce and government procurement.
Medical and cosmetic surgery services from South Korea are expected to become morewidely available in China as a result of the agreement, which will allow doctors who are licensed in South Korea, including plastic surgeons, to work in China for six months to a year. (Photo 1)