VN, RoK to ink FTA in late 2014

August 14, 2014 | 09:00

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The Republic of Korea (RoK) will work with Viet Nam for the signing of a free trade agreement (FTA) by late this year.

Head of the Party Central Committee’s Economic Commission Vuong Dinh Hue (R) and RoK's Minister of Trade, Industry and Energy Yoon Sang Jik

Minister of Trade, Industry and Energy Yoon Sang Jik made the announcement in Seoul while meeting with Head of the Party Central Committee’s Economic Commission Vuong Dinh Hue.

The signing of the FTA is expected to create a stronginvestment wave of RoK enterprises to Viet Nam, said Mr. Yoon Sang Jik.

According to the host leader, besides existing scopes of investment, the two sides should promote other fields of cooperation like agriculture and aquaculture.

Minister Yoon Sang Jik also showed his approval of a proposal delivered by Mr. Hue relating to the establishment of a new technical incubator park in a northern province in Viet Nam and encourage Korean dying and garment enterprises to Viet Nam in an effort to greet a new wave of investors before the signing of Trans-Pacific Partnership.

The two sides acknowledged the need to promote connectivity in the auxiliary industries, expand manpower training programs, and boost labor cooperation.

VGP

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