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RoK, Indonesia to hold free trade talks this week

The Republic of Korea (RoK) plans to hold talks with Indonesia this week on their bilateral free trade agreement as part of efforts to diversify trade amid rising protectionism around the globe, the Korean trade ministry said on August 27.
RoK, Indonesia to hold free trade talks this week
RoK, Indonesia to hold free trade talks this week ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) –
The Republic of Korea(RoK) plans to hold talks with Indonesia this week on their bilateral freetrade agreement as part of efforts to diversify trade amid rising protectionismaround the globe, the Korean trade ministry said on August 27.

The two countries have been seeking to strike a bilateralComprehensive Economic Partnership Agreement (CEPA) since 2012. Theirnegotiations resumed in February after a hiatus of five years.

The CEPA is equivalent to a free trade agreementbut focuses on a broader scope of economic cooperation beyond trade.

According to the Korean trade ministry, theupcoming talks, the ninth edition, will be held on the southern island of Jejufrom August 28 to 30. 

Indonesia is the second-largest trading partnerof the RoK in the Association of Southeast Asian Nations (ASEAN). Two-waytrade reached 20 billion USD in 2018.

The RoK is pushing the signing of free tradedeals with Indonesia, Malaysia and the Philippines this year. If all thenegotiations underway are successful, the RoK will have free trade deals withall five of its top ASEAN trading partners.-VNA
VNA

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