Australia, South Korea aim to reach early conclusion on free trade agreement: minister

09/11/2010 12:00 - 393 Views

Australia and South Korea will aim to reach an early conclusion on a free trade agreement, Australian Trade Minister Craig Emerson said on Thursday.

Dr Emerson has ended a four-day visit to Asia for senior level talks in China, the Republic of Korea, and Singapore.

He said talks with South Korean Trade Minister Kim Jong-hoon has focused on the free trade negotiations, and the two countries agreed to seek an early conclusion by resolving remaining issues.

"Though the outstanding issues are difficult for both sides, South Korea is Australia's third-largest merchandise goods export market," Dr Emerson said in a statement released on Thursday. "An agreement offers substantial benefits for our two countries."

Meanwhile, Dr Emerson said he believes the stalled Doha round of trade talks, which aims to lower trade barriers around the world, and allowing countries to increase trade globally, can be concluded.

In China, Dr Emerson met National Development and Reform Commission Chairman Zhang Ping and Minister of Commerce Chen Deming.

Australia Associated Press reported on Thursday that the two countries have agreed to explore ways to accelerate negotiations for a free trade agreement, as well as efforts to promote the quality of Australia's tertiary education sector in China.

18:29, November 04, 2010
Source: Xinhua