First phase of talks on Serbia-South Korea FTA concludes in Seoul

SEOUL - The first phase of talks on a Serbia-South Korea FTA was successfully concluded in Seoul on Thursday, the Serbian Ministry of Internal and External Trade announced.

In a statement, it said the talks had been held in a constructive atmosphere, amid mutual satisfaction with the achieved progress, given a joint readiness for, and interest in, the soonest possible entry into force of the FTA, with the negotiations expected to be completed successfully in 2026.

The FTA will ensure preferential treatment for exports of Serbian agricultural and industrial goods to the South Korean market of more than 50 million consumers, which is characterised by high purchasing power and stable demand, the ministry said.

"At the same time, a clear message will be sent to Korean investors that the Republic of Serbia is an attractive destination for investments and transfers of modern technologies in sectors in which the Republic Korea has achieved a high degree of development at global level, such as electronics, the automotive industry, robotics and artificial intelligence," it also said.