South Korea and Uzbekistan have agreed to start talks on a bilateral free trade pact.
This was decided by President Moon Jae-in and his Uzbek counterpart Shavkat Mirziyoyev in a virtual summit on Thursday.
If realized, this would be Seoul’s first trade deal in goods with a partner of its New Northern Policy which aims to boost trade with emerging economies.
The deal will be formally called the Agreement for Sustainable Trade and Economic Partnership or STEP.
Last year, bilateral trade between the two countries amounted to 1.72 billion U.S. dollars.
South Korea and Uzbekistan also signed an MOU on expanding cooperation in the digital and green sectors.

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