The European Union and South Korea have signed a trade deal that could be worth up to 28 billion dollars to European exporters. The deal will remove most of the trade tariffs between the two partners. EU Trade Commissioner Catherine Ashton said the deal will create opportunities for European companies in services, manufacturing and agriculture. She said this is the first 21st century free trade agreement for the EU, creating deep economic ties with another developed economy. The agreement is expected to come into force in the second half of next year, once it has been ratified by the European Parliament. <br/>