Fin. Min.: S. Korea to speed up FTA talks with GCC

TOKYO, April 5 (KUNA) -- South Korea will continue efforts to diversify its trade portfolio and speed up free trade negotiations, including the talks with the Gulf Cooperation Council (GCC) to revitalize slowing exports, Finance Minister Choo Kyung-ho said Wednesday, Yonhap News Agency reported.

Choo made the remark ahead of a closed-door meeting, where economy-related ministers discussed various issues, including expanding free trade deals and coping with protectionism from major countries, according to the Ministry of Economy and Finance.
South Korea held its seventh round of negotiation with the GCC, consisting of six nations -- Kuwait, the United Arab Emirates, Bahrain, Saudi Arabia, Oman and Qatar -- in February.
"Recently, the global economy and the financial market have been facing volatility and uncertainty following aggressive monetary-tightening moves in major economies," Choo said, pointing out that the prolonged Russo-Ukrainian war also is weighing on Asia's Number four economy.
South Korea's exports fell for the sixth consecutive month in March due mainly to weak global demand for semiconductors amid an economic slowdown, with the country suffering a trade deficit for 13 months in a row.
The country will also seek economic partnership agreements with developing countries, such as Mongolia and Georgia, Cho added. (end) mk.gta.