|
|
SEOUL, MANILA ANNOUNCE FTA NEGOTIATIONS |
|
|
|
Poster : admin
Date : 19-10-03 11:40
Hit : 556
|
|
South Korea officially announced the start of free trade agreement (FTA) negotiations with the Philippines on June 3 as part of eorts to strengthen economic ties with the Southeast Asian country. During a meeting here, Trade Minister Yoo Myung-hee and her Philippine counterpart Ramon Lopez set the goal of completing the free trade negotiations by November this year, in tune with South Korea's summit with the Association of Southeast Asian Nations (ASEAN) countries. "By removing tariffs and non-tariff barriers, the FTA will also further promote the economic cooperation between the two countries," Yoo said. Trade volume between the two has been expanding sharply over the past years, reaching USD 15.6 billion in 2018, up 67 percent from USD 9.3 billion posted in 2010, according to Seoul's trade ministry. South Korea already clinched FTAs with Vietnam and Singapore, and is currently FTA talks with Malaysia and Indonesia as well. If all talks under way are successful, South Korea will have FTA deals with all of its top ve trading partners in Southeast Asia.
|
|
|
|