The government of South Korea and nine members of the Association of South-East Asian Nations (Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, and Vietnam) signed an FTA together in May 2006, which took effect in July 2006.
Due to concerns about agriculture, particularly the deal’s provisions on rice and livestock, Thailand negotiated separate arrangements with the Korean government to join the pact in early 2009. Korea is also interested in a separate, higher level FTA with Malaysia.
last update: May 2012
Photo: Joe Mabel / CC BY-SA 3.0
The Philippines and South Korea are aiming to conclude their free trade negotiations by next year in a bid to finally cure the trade and industry imbalances between the two Asian nations.
The South Korea Ministry of Trade, Industry and Energy’s strategic goals to facilitate cooperation between South Korea and ASEAN countries include expanding free trade agreement (FTA) networks such as the RCEP.
Free Trade Agreement (FTA) negotiations with South Korea are currently stalled because Seoul has not budged on key items sought by the Philippine side, particularly on opening up the market for bananas.
Negotiations between the Philippines and South Korea on the planned free trade agreement (FTA) is “smooth sailing”, South Korean Ambassador to the Association of Southeast Asian Nations (Asean) Lim Sung-nam said Wednesday.
South Korea’s trade ministry said plans to hold another round of negotiations with Indonesia on a comprehensive trade agreement, as Asia’s No. 4 economy continues efforts to expand its export portfolio in the Southeast Asian market.
President Joko “Jokowi” Widodo’s aggressive efforts to lure more foreign direct investment (FDI) ahead has been warmly met by South Korea.
Indonesia is targeting substantial conclusion to negotiations on the draft of the Comprehensive Economic Partnership Agreement (CEPA) with South Korea in October 2019, Trade Minister Enggartiasto Lukita stated.
South Korea will hold a third round of free trade talks with Malaysia this week with the aim of striking a trade deal before November, Seoul’s trade ministry said Tuesday.
Korea government called for the expansion of trade with Asean states, especially in light of the global rise of protectionist policies and trade wars, not to mention Korea’s recent tensions with Japan.
The Philippines and South Korea are poised to conclude a bilateral free-trade agreement (FTA) one month ahead of the November target, as both parties are making significant progress in market access negotiations.