Wrapping up FTA (Free Trade Agreement) talks, Korean and Australian governments were urged along by business people from both nations to hurry and finalize the agreement. The expressions of impatience from Australia's top business leaders came as Korea and Australia look poised to assist each other with their capabilities. This was the fifth round of talks.
"An FTA between South Korea and Australia will create many new opportunities in trade and investment for both of the countries as they have complementary industrial structures," Chung Joon-yang, co-chairman of the Korea-Australia Business Council and head of South Korea's top steelmaker POSCO, said at the 31st business council meeting held at a Seoul hotel.
Government and business co-operation is confirmed by Seoul and Canberra to extend to conduct and conditions of conduct during the G-20. South Korea and Australia currently trade about US$20 billion worth of goods and services every year.
SOURCE: Yonhap
