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./.