The Republic of Korea has established a support centre for businesses operating in Jakarta, Indonesia (Illustrative photo: Yonhap) Seoul (VNA) – The Republic of Korea has established a supportcenter for businesses operating in Jakarta, Indonesia, to serve as a help deskon the bilateral free trade agreement (FTA) with the Southeast Asian country, Yonhapreported.
The centre was set up at the Korea Trade-Investment Promotion Agency (KOTRA)office in the capital city of the Association of Southeast Asian Nations(ASEAN) member state to mark the 10th anniversary of the open trade deal, thenews agency quoted sources from the Ministry of Trade, Industry and Energy onSeptember 5.
The RoK’s exports to the 10-member ASEAN nearly doubled to 119 billion USD lastyear from 61.8 billion USD in 2006.
Indonesia has not made the best use of the FTA, although the country accountsfor about 40 percent of the gross domestic products of ASEAN, the ministrysaid.
The opening of the support center in Jakarta brings to 11 the number of the RoK'sFTA support centers abroad with China having seven, Vietnam two and Colombiaone.
The ministry, meanwhile, said it will hold an event in Ho Chi Minh City, Vietnam,on September 7 to promote the bilateral free trade deal between the RoK andVietnam.
The FTA between the RoK and Vietnam went into force in December 2015.
Data released by the Korea Customs Service said outbound shipments to Vietnamsurged 49.8 percent to 26.95 billion USD in the first seven months this yearfrom a year earlier. This makes the country the RoK's third largest exportdestination only after China and the United States, Yonhap reported.-VNA
The centre was set up at the Korea Trade-Investment Promotion Agency (KOTRA)office in the capital city of the Association of Southeast Asian Nations(ASEAN) member state to mark the 10th anniversary of the open trade deal, thenews agency quoted sources from the Ministry of Trade, Industry and Energy onSeptember 5.
The RoK’s exports to the 10-member ASEAN nearly doubled to 119 billion USD lastyear from 61.8 billion USD in 2006.
Indonesia has not made the best use of the FTA, although the country accountsfor about 40 percent of the gross domestic products of ASEAN, the ministrysaid.
The opening of the support center in Jakarta brings to 11 the number of the RoK'sFTA support centers abroad with China having seven, Vietnam two and Colombiaone.
The ministry, meanwhile, said it will hold an event in Ho Chi Minh City, Vietnam,on September 7 to promote the bilateral free trade deal between the RoK andVietnam.
The FTA between the RoK and Vietnam went into force in December 2015.
Data released by the Korea Customs Service said outbound shipments to Vietnamsurged 49.8 percent to 26.95 billion USD in the first seven months this yearfrom a year earlier. This makes the country the RoK's third largest exportdestination only after China and the United States, Yonhap reported.-VNA
VNA
