Seoul and Hanoi start talks on a free trade agreement

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Seoul and Hanoi start talks on a free trade agreement

Korea and Vietnam declared the launch of talks on a bilateral free trade agreement yesterday as part of efforts to strengthen economic ties, Seoul’s Trade Ministry said.

In a meeting held in Hanoi earlier in the day, Korean Trade Minister Bark Tae-ho and his Vietnamese counterpart Vu Huy Hoang agreed to launch their free trade talks, the ministry said. Korea already has a free trade pact on merchandise with the 10-member Association of Southeast Asian Nations that took effect in 2010. Similar deals on services and investments also have come into effect.

Vietnam is a member of Asean, but South Korea and Vietnam have been seeking to seal their bilateral free trade pact.

Korea and Vietnam finalized a joint study on the feasibility of an FTA between the countries in October last year.

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