Korean government continues negotiations with Mercosur

The South Korean government will begin their third round of negotiations with the four Mercosur member countries on Friday (12/07) in Montevideo, Uruguay. They seek ways to increase exports between South Korea and Mercosur countries.

Since last May, when the first meetings were held in Seoul, two official negotiations have been held. This time the meetings will cover wide areas, including exports of goods and services, investments, intellectual property, country of origin, sanitary and phytosanitary measures, technical barriers to trade, and government procurement.

Trade volume between Korea and Mercosur countries have constantly decreased, peaking at US$20.8bn in 2011. The numbers, however, rose slightly last year to US$11.12bn.

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