DHAKA: China and South Korea agreed at summit talks Thursday to seek the early launch of a market to directly trade their currencies and complete free trade negotiations by the end of the year.

The agreement was contained in a joint communique endorsed by South Korean president Park Geun-Hye and her Chinese counterpart Xi Jinping at the end of their talks in Seoul.

The two leaders agreed to step up efforts for the completion of negotiations on a ‘comprehensive’ free trade agreement (FTA) by the end of this year, the communique said, reports The Straits Times.

The major Asian economies began FTA negotiations in 2012 but progress has been delayed by differences on the extent of market opening.

BDST: 2143 HRS, JULY 03, 2014