Vietnam and the Republic of Korea began a fresh round of negotiations for a bilateral free trade agreement (FTA) in Seoul on May 20, in a joint effort to reach the signing of the document by the end of this year.
Vietnam and the Republic of Korea began a fresh round ofnegotiations for a bilateral free trade agreement (FTA) in Seoul onMay 20, in a joint effort to reach the signing of the document by theend of this year.
During the fifth round, whichwill last till May 23, the two sides will have an in-depth discussionon goods, services, investment, and customs procedure, according tothe RoK Ministry of Trade, Industry and Energy.
The higher-level bilateral FTA with Vietnam, which will exceed theone with ASEAN, will help strengthen the trade links between the twocountries, the ministry said.
At the 2013Summit, Vietnam and the RoK agreed to wrap up the negotiations bythe end of the year after starting the bilateral FTA talks in November2012.
The RoK already signed a free trade pactin March with the Association of Southeast Asian Nations (ASEAN), ofwhich Vietnam is a member.
In 2013,Vietnam was the ninth largest trade partner of the RoK, with two-waytrade reaching 28.26 billion USD. It attracted 1.46 billion USD fromKorean investors the same year.-VNA
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