Against that background, progress toward a free trade zone that would be the world's third largest could easily be interrupted by any flare-up in political tensions. A separate Japan-South Korea trade deal has languished since talks were halted in 2004 as they could not narrow disagreements over opening agricultural trade. Negotiating a three-way deal among countries at different stages of development, and each with industries lobbying for protection from competition is by itself a complicated affair."Usually, it takes around one to three years at the least to conclude FTA talks with a large trading partner, but I think the ongoing talks may take some more time, considering the importance and size of the involved countries and the fact that they are three-way negotiations," Choi Kyong-lim, South Korea's chief negotiator, told reporters according to Yonhap.
Asian Giants Tiptoe Toward Free Trade Deal
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts