The Republic of Korea is set to hold ministerial-level talks with Vietnam soon over a bilateral free trade agreement (FTA), said the RoK Trade Ministry on July 15.
According to the ministry, the country is making all-out efforts to complete bilateral free trade pacts with a number of ASEAN member countries in a bid to further boost trade volume.
The RoK is also in negotiations with Indonesia over a so-called Comprehensive Economic Partnership Agreement (CEPA), which is equivalent to a free trade agreement.
Last week, the two countries held their first round of free trade talks in Jakarta, the ministry added.
"If bilateral free trade pacts with Vietnam and Indonesia are sealed, exports to both nations will increase," said an official at the ministry.
The RoK has a FTA with the 10-member ASEAN that includes Indonesia and Vietnam.
But the country has also been seeking bilateral pacts with some ASEAN members to further boost trade with the region./.