South Korea and Australia will start their three-day preparatory talks on free trade agreement, the Korea Herald reported Monday.
According to the daily news paper, the initial talks between South Korea's President Lee Myung-bak and Australian Prime Minister Kevin Rudd will take place in Seoul this week from Monday to Wednesday.
The talks were agreed on during Rudd's visit to Seoul in August.
"These preparatory talks represent an important step towards ensuring that Australian exporters maximize their opportunities in the Korean market, particularly at a time when Korea's other major trading partners such as the United States and the European Union are seeking improved access through free trade agreements," Australia's Minister for Trade Simon Crean said.
In 2007, South Korea was the fourth-largest export market of Australia, with export amount worth of 9.8 billion U.S. dollar, Korea Herald said.
Energy, minerals and metals accounted for about two-thirds of exports, it said.
Source:Xinhua
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