Seoul: South Korea and Morocco have reached an agreement to begin discussions aimed at establishing a bilateral comprehensive economic partnership agreement (CEPA), as announced by Seoul's trade ministry on Wednesday. This agreement marks a significant step towards enhancing economic collaboration between the two nations.

According to Yonhap News Agency, Trade Minister Yeo Han-koo and Omar Hejira, Morocco's Secretary of State to the Minister of Industry and Trade, conducted a virtual meeting to deliberate on strategies for enhancing economic ties and initiating CEPA negotiations. The agreement to commence these negotiations is viewed as a potential catalyst for strengthening bilateral economic cooperation.

Minister Yeo emphasized that the proposed South Korea-Morocco CEPA would play a crucial role in allowing Korean companies to broaden their business diversification and expand their trading opportunities. This initiative is seen as a strategic move to bolster economic relations and create new avenues for trade and investment between the two countries.