The Ministry of Trade, Industry and Energy of the Republic of Korea (RoK) is set to hold open hearings in Seoul on May 7 to promote the country’s free trade agreements (FTAs) with the Philippines and Malaysia.
A view of the Port of Busan in the RoK (Photo: AFP/VNA)
Seoul (VNA) – The Ministry of Trade, Industry andEnergy of the Republic of Korea (RoK) is set to hold open hearings in Seoul onMay 7 to promote the country’s free trade agreements (FTAs) with thePhilippines and Malaysia.
The hearings are intended to collect opinionsfrom relevant sides and experts before building plans to step up the deals,according to Yonhap News Agency.
At the talks on March 13, RoK President MoonJae-in and Malaysian Prime Minister Mahathir Mohamad agreed to promote anFTA to continue expanding bilateral trade and investment.
Malaysia is currently the fourth biggest ASEANtrade partner of the RoK, following Vietnam, Indonesia and Singapore.
Meanwhile, the RoK and the Philippines haveagreed to accelerate a free trade pact to form a more comprehensive economicpartnership. The Philippines now ranks fifth among the RoK’s trade partners inASEAN.
An FTA between the two countries are expected tohelp strengthen trade and investment links while creating a legal foundationand momentum for the RoK Government’s implementation of its New SouthernPolicy.-VNA
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A view of the Port of Busan in the RoK (Photo: AFP/VNA) 
