Korea and Mongolia open the fourth round of negotiations to strengthen trade ties, reports Centralasia (MNG).
The fourth round of negotiations on a comprehensive economic partnership between the two countries in order to expand ties in the field of trade and supply chains started on Tuesday, November 26 in Seoul.
During four -day negotiations under an agreement on economic partnership (SEP), the main attention was paid to the promotion of topics related to trade, investments, state purchases and other joint initiatives.
Thanks to mutually beneficial industrial structures, South Korea and Mongolia have significant potential for cooperation, said the Minister of Trade of Chong In Kyo during the speech.
“An agreement on economic partnership with Mongolia, which develops in the ten countries of the world with rich reserves of natural resources, will play a key role in strengthening ties in supply chains, logistics, infrastructure and digital sectors,” added Jung. P>
It is expected that the alleged agreement will also create legal and political framework for joint projects in the field of energy and development of resources, which will further strengthen the supply chain for advanced industries, the Ministry of
said.
The agreement on economic partnership has a narrower scope than the traditional free trade agreement, and is aimed at creating a mutually beneficial retail network between partner countries.