China, ROK to conclude FTA negotiation by year end

BEIJING - Negotiations on a free trade agreement (FTA) between China and the Republic of Korea (ROK) will be completed by the end of the year, China's Ministry of Commerce said on Monday.

Wang Shouwen, assistant minister of commerce, said all the negotiations will be wrapped up by the end of 2014. The agreement is expected to be signed in 2015 and take effect in the second half of 2015.

The agreement will cover 17 areas, including trade in goods and services, investment and trade rules, and topics such as e-commerce and government procurement.

Over 90 percent of goods traded between China and the ROK will be tariff-free, accounting for more than 85 percent of bilateral trade value.