South Korea’s trade minister said the country and six Central American nations have moved closer to a finalizing a free trade agreement, Joongan Daily reported Monday. The deal, which will help expand Korea’s presence in the region, includes Nicaragua, El Salvador, Honduras, Costa Rica, Panama and Guatemala. The countries agreed on terms in November to eliminate tariffs on 95% of goods within ten years, and the deal is expected to be signed in the first half of this year.
The Republic of Korea flag in Seoul. Photo: Sputnik, Ramil Sitdikov
So who needs the TPP?
A trade agreement between South Korea and six Central American nations is expected to be signed in the first half of this year