Korea-EU Hold Digital Trade Agreement Negotiations in Brussels... Discussing Trade Facilitation and Innovation Promotion Enhancements

The Ministry of Trade, Industry and Energy announced on the 25th that the 3rd Korea-European Union (EU) Digital Trade Agreement negotiations will be held from the 25th to the 27th in Brussels, Belgium, with about 30 government representatives from both Korea and the EU attending.

Digital trade refers to cross-border activities among economic entities related to the trade of goods, services, and data through electronic means such as the internet.

Both sides share the understanding to establish a high-level digital trade agreement based on the principles agreed upon in the Korea-EU Digital Trade Principles in November 2022, which include securing consumer and business trust, facilitating digital trade, and cooperating to respond to digital protectionism. Since the declaration to commence negotiations on the Korea-EU Digital Trade Agreement in October last year, two rounds of negotiations have been held.

An official from the Ministry of Trade, Industry and Energy stated, "In this 3rd round of negotiations, we plan to confirm each side’s positions through detailed discussions on specific provisions and seek ways to advance the negotiations by narrowing the gaps between the two sides’ positions." He added, "We expect that expanding the digital trade network with the EU, a major economic bloc, will also contribute to enhancing the business competitiveness of our companies."

This content was produced with the assistance of AI translation services.