Korea pushes for FTAs with seven emerging, high-potential nations
![An economic forum between Korea and Thailand in Bangkok on Oct. 6, 2022 [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2023/08/28/beb856df-40dc-4076-a278-72ead8394da2.jpg)
An economic forum between Korea and Thailand in Bangkok on Oct. 6, 2022 [YONHAP]
Korea is pushing to clinch free trade agreements with seven emerging and high-potential nations, including Kenya and Thailand, in an effort to boost growth momentum and diversify its trade portfolio, the Ministry of Trade, Industry and Energy said Friday.
The country is working to sign a bilateral economic partnership agreement (EPA) with Kenya, Tanzania, Morocco, Thailand, Pakistan, Serbia and the Dominican Republic, and held a public hearing session in Seoul on Friday, according to the ministry.
An EPA is meant to establish a mutually beneficial trade network with partner nations beyond a simple market opening, though it covers a smaller scope of areas compared with a traditional free trade agreement.
"The seven nations bear high growth potential and have ample room for mutually beneficial cooperation with Korea," Roh Keon-ki, Seoul's deputy minister for trade negotiations, said.
The nations can serve as a bridgehead for Korea to further expand its trade network, he added.
Korea aims to clinch free trade agreements with more than 10 nations and trade promotion frameworks with over 20 nations this year.
Yonhap
with the Korea JoongAng Daily
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