(September 8, 2020 / JNS) Israel and South Korea are in the final stages of reaching a free-trade agreement in the next few weeks.

Israel’s business daily Globes reported on Tuesday that talks between Jerusalem and Seoul have been ongoing for a few years but had been delayed for political reasons, are now bearing fruit. This, the report said, is partly due to the recent Abraham Accord between Israel and the United Arab Emirates,” which rendered the agreement acceptable from the point of view of South Korea’s trade relations with the Arab world.”

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Recently, however, the agreement was given a green light on the Korean side, among other things thanks to the normalization of relations between Israel and the United Arab Emirates, which rendered the agreement acceptable from the point of view of South Korea’s trade relations with the Arab world.

An Israeli Foreign Ministry spokesperson told Globes that “the free-trade agreement with South Korea is in the final stages of drafting, and we hope that within a few weeks it will be possible to sign it. Advanced talks on a free-trade area are also taking place with China and Vietnam.” Read more at JNS