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Sino-S.Korean trade expected to surge 70% by 2020
Last Updated: 2015-06-03 08:15 | CRI
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Consumers in China and South Korea will soon be able to buy most goods made in the other country at cheaper prices.

This after the two sides have struck a long-awaited free trade deal.

Under the deal, tariffs on over 90 percent of the goods traded between the two countries will be removed in the next two decades.

Bilateral trade between the two countries has exceeded 230 billion U.S. dollars as of last year.

Once the FTA takes effect, the number is expected to increase 70% to reach 400 billion U.S. dollars in five years.

And items on a negative list will also be reduced.

The signing of the free trade deal is also expected to affect South Korea's role as an intermediary between China and the U.S..

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