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Related Keywords: China, China will scrap tariff, Deputy Trade Minister, fashion products, imported items from China, items imported from Korea, items made in the inter-Korean GIC, Korea, official sign FTA, SMEs making textile, Woo Tae hee

Korea has initiated a free trade agreement (FTA) with China. The two countries have agreed to work for the official signing of the pact within the first half of the year, said Deputy Trade Minister Woo Tae-hee on Wednesday.

Following the deal, Korea will eliminate tariffs on 92 percent of imported items from China within the next 20 years. China will scrap tariffs on 91 percent of items imported from Korea, within the same period.

The deal makes Korea the only major economy to sign an FTA with the world's three biggest economies ― the U.S., China and the EU.

Related Keywords: curb textile smuggling, Deputy Trade Minister, Ghanaian textile industry, Joint anti pirate textile task force, Ministry of Trade and Industry, Murtala Mohammed, pirated designs, seized and destroyed pirated textiles, stiffer punished, textile smugglers

The joint anti-pirate textile task force set up by the Ministry of Trade and Industry (MOTI) to curb textile smuggling and pirated designs into the country. The team comprise the Deputy Trade Minister, Murtala Mohammed, and members of the joint task force drawn from textile producers, vendors, and officials of MOTI, seized pirated textiles at various border entry points and markets in the country.

The team has destroyed a total of 3,500 pieces of pirated Ghanaian textile designs it seized at the Kpone land fill site this week.