RoK, Philippines intensify economic 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.

Wednesday, April 17, 2019 21:54

Hanoi (VNA) – The Trade Ministry of the Republic of Korea said onApril 17 that the country has agreed with the Philippines to launch negotiationson a bilateral free trade agreement (FTA) as part of efforts to boost economicties.

During her visit to the Philippines, RoK Trade Minister Yoo Myung-hee met herPhilippine counterpart, Ramon Lopez.

At their talks, the two ministers agreed to negotiate on a free trade agreement(FTA) with the goal of finalising the details in time for the summit betweenthe RoK and the Association of Southeast Asian Nations (ASEAN) this November.

Among ASEAN members, the Philippines is the RoK's fifth-largest tradingpartner. The bilateral trading volume between the two came to 15.6 billion USD in2018.

Earlier, the RoK signed FTAs with with Vietnam and Singapore, and is currentlyconducting free trade negotiations with Malaysia and Indonesia. - VNA

VNA

#Republic of Korea #Philippines-RoK partnership #ASEAN #Philippines-RoK free trade agreement #Vietnam #Vietnam news #Vietnam News Agency Korea (RoK) Philippines

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