Fashion
UK, S Korea pledge to complete talks on upgrading FTA by 2025 end
Five rounds of negotiation are over and both sides pledged to complete the talks by the year end, a joint communiqué issued by both sides following a bilateral senior economic dialogue in Seoul said.
British and South Korean officials yesterday agreed to speed up talks to upgrade a bilateral FTA as part of their efforts to expand trade and investment.
Five rounds of negotiation are over and both sides pledged to complete the talks by the year end at a bilateral senior economic dialogue in Seoul.
The two sides explored ways to expand cooperation in economic security, trading, investment and AI.
South Korea’s second vice minister for foreign affairs Kim Jina and UK parliamentary under-secretary for the Indo-Pacific Catherine West co-chaired the dialogue.
Both sides met last month for the fifth round of negotiations on easing regulations on product origins and introduced new rules in the areas of supply chains and digital trade.
The two sides explored ways to expand cooperation in economic security, trading and investment, artificial intelligence, quantum technology, defense industry, engineering, biology, space and energy, the communiqué said.
South Korean officials requested the British government to ‘favorably review’ its safeguard measures against home-grown steel products and an electric vehicle subsidy scheme to ensure fair competition for Korean companies.
Fibre2Fashion News Desk (DS)
New Zealand’s apparel imports (HS ** and ** combined) declined to NZ$***.** million (~$***.* million) in January **** from NZ$***.** million in January ****, representing a *.* per cent year-on-year decrease. In volume terms, shipments fell to **.** million units from **.** million units, reflecting softer sourcing activity and continued inventory discipline among retailers.
Knitted apparel (HS **) imports declined to NZ$**.** million (~$**.* million) in January **** from NZ$**.** million in January ****, down *.* per cent year on year. Volumes also fell to **.** million units from **.** million units, suggesting weaker replenishment demand and continued emphasis on controlled inventory cycles across the retail segment.
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