Vietnam, South Korea to Launch Joint Committee for FTA
Vietnam and South Korea plan to make debut a collaboration team to study the possibility of a bilateral free trade agreement (FTA) in Seoul in May.
South Korean Trade Minister Kim Jong-hoon and Vietnamese counterpart Vu Huy Hoang agreed on the issue on Mar. 22 during the former’s visit to Vietnam, the Arirang.co.kr reported.
The FTA is expected to improve the bilateral trade balance and boost their trade to US$20 billion in 2015, up from US$9.2 billion in 2009.
During the meeting, Kim Jong-hoon also talked about his government’s priorities on boosting investments into power, electronics and nuclear power projects in Vietnam in the next years.
Currently, South Korea ranks the second out of 89 foreign investors in Vietnam with 2,200 projects totaling US$20 billion. (
www.arirang.co.kr)
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