UK starts trade talks with South Korea

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UK starts trade talks with South Korea

LONDON: Britain started preparations on Friday December 9 for trade talks with South Korea, starting a consultation with businesses and individuals about what they want to see in a future free trade agreement.

London is trying to build ties with Asian countries as part of an Indo-Pacific tilt in its foreign policy after leaving the European Union, and the negotiation of trade deals around the world is a main plank of Britain's vision for itself after leaving the European Union.

Britain is yet to start formal trade talks with G 20 member South Korea, and Britain wants to ask businesses what they want from any future deal as it looks to expand the 14.3 billion pound US $17.5 billion bilateral trading relationship.

The junior trade minister Greg Hands said, "I'm delighted that we are on the cusp of launching trade negotiations with another dynamic market in a fast-growing part of the world.

South Korea is a growing market for top-quality British products and services and is a key part of the UK's renewed focus on the Indo-Pacific region, which helps to secure stronger ties with economies of the future.