Israel will sign a free trade agreement with South Korea this week, marking the first such arrangement with an Asian market, the Economy Ministry said Sunday.
The deal, meant to bolster bilateral trade by cutting out customs duties and offering safety nets on investments, will be signed this week in Seoul during a visit by Foreign Minister Gabi Ashkenazi and Economy Minister Amir Peretz.
More than 95% of Israeli exports to South Korea will be customs-free, the ministry said. Israel is working on similar deals with China, Vietnam and India, it added.