China, South Korea sign trade pact

China Daily (Canada) - - FRONT PAGE -

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)

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