South Korea, Mercosur Bloc Begin New Round Of Free Trade Negotiations - Reports


South Korea, Mercosur Bloc Begin New Round of Free Trade Negotiations - Reports

MOSCOW (UrduPoint News / Sputnik - 30th August, 2021) South Korea and the Southern Common Market, also known as Mercosur, have launched a five-day meeting on free trade and cooperation, the Yonhap news agency reported on Monday, citing the Ministry of Trade, Industry and Energy.

Seoul and South America's trade bloc have been holding negotiations since 2018.

During this week's meeting, the sides are expected to discuss a wide range of issues, including intellectual rights, according to the media outlet.

The seventh round of negotiations will last through Friday.

Mercosur was founded in 1991 to promote a common space to generate commercial and investment opportunities through the integration of South American economies into the international market. The organization includes Argentina, Brazil, Paraguay, and Uruguay as members, as well as Bolivia, Chile Colombia, Ecuador, Guyana, Peru, and Suriname as associate members.