LOC19:07
16:07 GMT
TOKYO, March 5 (KUNA) -- South Korea and the Gulf Cooperation Council (GCC) have discussed ways to utilize their recently-struck free trade agreement (FTA), Seoul's Trade Minister Cheong In-kyo said Tuesday, Yonhap News Agency reported.
Cheong met ambassadors of the GCC in Seoul to seek ways to utilize the bilateral FTA struck in late 2023, according to the Ministry of Trade, Industry and Energy.
"The cooperation between South Korea and the GCC nations has been expanding its scope to cover manufacturing, defense, medical, and contents, beyond traditional areas such as energy and construction," Cheong was quoted as saying during the meeting.
"On the back of the FTA struck in late last year, the areas of cooperation will not only expand further but also go deeper," he added. The minister also called for the GCC members to lend support to promptly proceed with the remaining procedures for the official implementation.
In 2023, the GCC was the fifth-largest trading partner for South Korea, following China, ASEAN, the US and the European Union. (end)
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