The Republic of Korea (RoK) and Vietnam will discuss methods to start the first negotiations on the bilateral free trade agreement (FTA) in Seoul on September 3-4.

This is seen as the two sides’ efforts to enhance bilateral economic ties, said the RoK Trade Ministry on August 29.

Last August, both countries agreed to start FTA negotiations after completing a joint research on the feasibility of the agreement in November 2011.

According to the RoK Trade Ministry, Vietnam is an emerging and quickly growing nation with an average economic growth of 5-8 percent annually.

Last year, Vietnam was the 15 th biggest trade partner of the RoK, with RoK’s exports to Vietnam worth 13.55 billion USD, an increase of 40 percent from 2010, and Vietnam’s exports to the RoK worth 5.08 billion USD, an increase of 53 percent in the same period.-VNA