South Korea and the United States negotiated on Friday an initiative to set up a new bilateral channel to boost cooperation in deliveries of primary materials and items, including semiconductors
MOSCOW (Pakistan Point News / Sputnik - 19th November, 2021) South Korea and the United States negotiated on Friday an initiative to set up a new bilateral channel to boost cooperation in deliveries of Primary materials and items, including semiconductors.
The matter was discussed at a meeting of the committee on the bilateral 2012 Free Trade Agreement (KORUS FTA), attended by South Korean Trade Minister Yeo Han-Koo and US Trade Representative Katherine Tai, who is currently on a visit to Seoul.
"The two sides agreed to boost bilateral strategic partnership regarding such various new trade issues as supply chains, technologies, a new digital trade framework and climate change. For the goal, we discussed setting up a channel through which we have in-depth discussions and cooperation under the current Korea-U.S. FTA framework," the South Korean Ministry of Trade, Industry, and Energy was quoted as saying by the Yonhap news agency.
The move comes amid disruptions in global deliveries of semiconductors and other strategic goods, driven by the COVID-19 pandemic, as well as the ongoing trade war between Washington and Beijing, according to the outlet.
The sides also discussed other issues of common interest, including agricultural innovations and digital markets.
