Bangkok (VNA) – Thailand and the Republic of Korea (RoK) held their first round of talks on an economic partnership agreement (EPA) on July 9-11, seeking to pave the way for a free trade deal between the two countries by late 2025.
The round was hosted by the Thai Department of Trade Negotiations (DTN), said Thai Deputy Minister of Commerce Suchart Chomklin.
The Thai delegation was led by Chotima Iemsawasdikul, director-general of the DTN, while the RoK delegation was headed by Roh Keon-ki, deputy minister for trade negotiations from the RoK's Ministry of Trade, Industry and Energy.
Suchart said the agreement will upgrade the mutual trade relationship, with the RoK investing more in Thailand, while shipments to Seoul increase for meat and fishery products, tropical fruits (such as mango, guava and mangosteen) and wood products.
Last year, the RoK was Thailand's 12th largest trade partner with 4.7 billion USD in two-way trade. Thailand's exports fetched 6.07 billion USD, while imports were valued at 8.66 billion USD.
Thailand's key exports to the RoK include refined oil, rubber products, sugar, electrical circuits, and aluminum products, and key imports are machinery and mechanical components, chemical products, iron and steel, and electrical circuits.
In the first five months of this year, trade between Thailand and the RoK hit 6.30 billion USD, with Thai exports valued at 2.51 billion USD./.
