China and South Korea have reported positive advancements in the latest round of negotiations for their bilateral Free Trade Agreement (FTA). The 16th round of talks, focused on the second phase of the agreement, yielded progress concerning cross-border services trade. Specifically, both nations made headway regarding negative-list market access, indicating steps toward further liberalization. The Chinese Commerce Ministry announced these developments on Wednesday, signaling a constructive dialogue between the two countries. This phase of the FTA aims to broaden and deepen economic cooperation beyond the initial agreement. These discussions reflect a continued commitment from both China and South Korea to strengthen their economic ties and facilitate trade. Further details regarding specific agreements reached were not immediately disclosed.