Finance minister says Korea will sign bilateral FTA with Russia by 2020
Finance Minister Hong Nam-ki says South Korea and Russia are working to sign a free trade agreement in services and investment by next year.
On a visit to Moscow Tuesday, local time, Minister Hong said a deal will be signed by 2020, and that an FTA in services and investment will not only help lower tariffs but also speed up customs procedures.
Seoul and Moscow started talks on services and investment last June.
The two sides' bilateral trade last year amounted to around 25 billion U.S. dollars.
On a visit to Moscow Tuesday, local time, Minister Hong said a deal will be signed by 2020, and that an FTA in services and investment will not only help lower tariffs but also speed up customs procedures.
Seoul and Moscow started talks on services and investment last June.
The two sides' bilateral trade last year amounted to around 25 billion U.S. dollars.