“The ambassador further clarified that both the countries agreed ahead of a planned third round of talks in September .However both nations agreed to simultaneously exchange concessions on textile and agriculture during the first half of August as they have entered a penultimate day of second round of talks for a proposed free trade agreement .South Korea and the United States are further hoping to wrap up the negotiations by the end of this year, while in the case of textile, Korean government has demanded the US to abolish all tariffs within five years .Source: Bharattextiles.com .