South Korea has ratified a free trade agreement with China
Date: 07:53, 01-12-2015.
Almaty. November 30. Silkroadnews - The National Assembly of the Republic of Korea approved a free trade agreement with China.
In support of the agreement voted 196 deputies, 33 parliamentarians voted "against" and 36 abstentions.
China and South Korea signed a bilateral free trade agreement in June on the basis of three years of negotiations. Under the agreement, both sides will cancel tariffs on more than 90% of the goods within 20 years after the agreement comes into force.
South Korea hopes that the agreement will help to increase the country's GDP by 0.96% and create 53 thousand jobs in the next ten years.
