Thailand will host the 11th Meeting of the ASEAN-Republic of Korea (RoK) Free Trade Agreement (AKFTA) Implementing Committee in Ubon Ratchathani from January 27 to 29.

Thawatchai Sophastienpong, Director-General of the Department of Trade Negotiations, said the meeting will discuss the opening of new markets for sensitive products and amendments to trade regulations to ease restrictions.

It will also discuss ways to enhance the utilisation of AKFTA to achieve the projected trade revenue target at 150 million USD by 2015 and 200 million USD by 2020.

Trade between Thailand and the RoK from January to November last year stood at 12.7 billion USD, up 7 percent year-on-year.

The RoK is ranked as the 10th trading partner of Thailand, and the latter has recorded a balance of trade surplus with the former. Thailand mainly exports electrical appliances, automobile and oil to the RoK while importing steel machinery, chemicals and electric equipment.

Previously, the 2014 ASEAN-Republic of Korea Commemorative Summit was held in the city of Busan, the RoK, on December 11-12 last year.-VNA