Vietnam, South Korea seal FTA
Hanoi
VIETNAM signed a free trade agreement (FTA) with South Korea on Tuesday which is expected to boost its exports to the Korean market and more than double bilateral trade over the next five years, the Vietnamese government said.
The agreement with Seoul is among a series of trade deals Vietnam has been chasing as part of its ambitions to become a regional manufacturing dynamo and lure investment to strengthen its US$184 billion economy. "Signing the FTA is an initial step, while it is more important for the two countries to have sincere cooperation so that the pact's implementation will be smooth," Vietnam Prime Minister Nguyen Tan Dung told South Korea's trade, industry and Energy Minister Yoon Sang-jick, according to a government statement.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons