South Korea signs American Central free trade deal

South Korea signs American Central free trade deal

AFP / File / MANDEL NGAN
South Korean Trade Minister Kim Hyun-chong (C) signed a free trade deal with economic ministers from Costa Rica, El Salvador, Honduras, Nicaragua and Panama
South Korea signed a free trade deal with Central American countries on Wednesday, as well as Seoul and Washington with their existing FTA. Trade Minister Kim Hyun-chong signed the Pact with Economic Ministers of Costa Rica, El Salvador, Honduras, Nicaragua and Panama, said a spokeswoman for the Seoul ministry.
The treaty, which will ratify it, will also provide the world’s 11th-largest economy with a “third road” to the US in the face of US trade protectionism in Washington, it said. South Korea and the US, known as KORUS, have had their talks on Washington’s request. US President Donald Trump has repeatedly called for a “horrific deal” and a “disaster”, and the two allies are at loggerheads over tariffs on steel, washing machines and other goods imposed by Washington in recent weeks. South Korea’s economy is heavily dependent on international trade and the Central American marketplace, the United States, and the United States. It ran a surplus of nearly $ 1.9 trillion with the Central American countries last year, with exports of $ 2.2 trillion and imports worth $ 333 million. The agreement came after 32 months of negotiations with other countries.

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