RoK, Philippines agree to make efforts for FTA deal
The leaders of the Republic of Korea (RoK) and the Philippines agreed on November 25 to make joint efforts to reach a deal in their free trade negotiations within next year.
Hanoi (VNA) - The leaders of the Republic of Korea (RoK) and thePhilippines agreed on November 25 to make joint efforts to reach a deal intheir free trade negotiations within next year.
The RoK's Presidential Office said President Moon Jae-in and his Philippine counterpartRodrigo Duterte made the pledge during their meeting held on the sidelines of aspecial summit between the 10-member Association of Southeast Asian Nations(ASEAN) and the RoK in the southern port city of Busan.
At the meeting, the two sides agreed on the need to open their commoditiesmarket at an early date and vowed to work together for substantive progress inthe ongoing FTA negotiations, so that they can strike a deal sometime in 2020.The two sides began their FTA talks in June.
They also discussed ways to boost bilateral relations in trade, investment,defence cooperation, infrastructure, energy and people-to-people exchanges.
On the occasion, the two leaders signed separate deals on increasing pensionbenefits for workers in each other's countries, and bolstering tourismcooperation.
This year also marks the 70th anniversary of diplomatic relations between the RoKand the Philippines./.
The Republic of Korea (RoK) and the Philippines are organising a series of cultural events throughout 2019, including performances of K-pop music, as part of activities to celebrate the 70th founding anniversary of their diplomatic ties.
The Trade Ministry of the Republic of Korea said on April 17 that the country has agreed with the Philippines to launch negotiations on a bilateral free trade agreement (FTA) as part of efforts to boost economic ties.
The Republic of Korea (RoK) and the Philippines began the third round of negotiations on a bilateral free trade agreement in Busan city on August 12.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
