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China, South Korea Start Talks on Free-Trade Pact

China and South Korea are starting discussions toward reaching a free-trade agreement and want to establish the accord as early as possible, Chinese Commerce Minister Chen Deming said.

The first round of talks will take place this month, Chen said at a briefing in Beijing today with South Korean Trade Minister Bark Tae Ho. The two countries’ goal is to lift trade to $300 billion in 2016, Chen said.