The Korea Times | 15 April 2024

Korea, Georgia kick off new round of trade talks

by Yonhap

Korea and Georgia kicked off another round of talks for a comprehensive economic partnership on trade and supply chains, Seoul’s trade ministry said Monday.

The two nations began a three-day session to discuss the envisioned Economic Partnership Agreement (EPA) in Seoul, according to the Ministry of Trade, Industry and Energy.

An EPA is meant to establish a mutually beneficial trade network with partner nations beyond a simple market opening, though it covers a smaller scope of areas compared with a traditional free trade agreement.

The two countries are expected to discuss details in areas, including goods and services, the ministry added.

Korea has been seeking to establish closer ties with Georgia, which is considered a key trade hub bridging Asia and Europe, with significant growth potential in supply chain and logistics.

Korea and Georgia held the first round of talks in Tbilisi in February.