Seoul (VNA) – The Republic of Korea (RoK) and Thailand are holding the 4th round of negotiations for a bilateral economic partnership agreement (EPA) in Seoul from March 4-7.
According to the RoK’s Ministry of Trade, Industry and Energy, the Korean delegation is led by Roh Keon-ki, deputy minister for trade negotiations at the ministry. Meanwhile, the Thai delegation is led by Chotima Iemsawasdikul, Director General of the Department of Trade Negotiations under the Ministry of Commerce. Each delegation consists of 50 members who are from the ministries of commerce, foreign affairs, finance, agriculture, environment and natural resources.
During the 4th round of negotiations, the two sides plan to focus 17 sectors that cover goods and services, digital technology, government procurement, and economic cooperation. The two sides will also discuss ways to expand cooperation in areas of mutual interest such as economy, digitalisation, and sustainable development.
Since the two countries officially started negotiating the EPA in March 2024, the two sides have held three rounds of negotiations in July, September, and December 2024. The two countries have conducted extensive discussions with the goal of concluding an agreement at a higher level than the RoK-ASEAN FTA or the Regional Comprehensive Economic Partnership (RCEP).
Roh Geon-gi, head of the Korean delegation, said the global trade environment is changing rapidly, increasing uncertainties for the economies of countries, including the RoK.
Signing new trade agreements with promising markets like Thailand is more important than ever, so the RoK is pushing ahead with negotiations to reach a comprehensive economic partnership agreement with Thailand, an important partner in the ASEAN region./.
