Economy
09:39 15/03/2012
Trade deal between South Korea and US starts
The long-delayed free trade agreement between South Korea and the US has come into effect, amid protests in Seoul, according to BBC.
The deal, signed five years ago, is the biggest such agreement for the US in 16 years and comes as Seoul is trying to open its markets to other trading partners.
US President Barack Obama spoke with South Korean President Lee Myung-bak on the phone to mark the launch.
But many South Koreans expressed scepticism about who will benefit.
First signed by in 2007, the deal was approved by the US Congress and ratified by the South Korean parliament last year.
Under the deal, tariffs on 80% of products traded between the two countries will disappear immediately, with 95% of trade being covered within five years.
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:
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