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
Korea aims to close free trade agreements with ASEAN countries by the end of 2006, presidential adviser for foreign affairs Chung Woo-sung said Tuesday. The government will seek to sign basic agreements during Korea-ASEAN summit talks in Kuala Lumpur, Malaysia on Dec. 13.
Hyundai Motor Co. will put up a car-assembly plant in the Philippines after the Association of Southeast Asian Nations (Asean) and South Korea forge a free-trade agreement, according to the Korean carmaker’s sole distributor in Manila.
Korea is expected to sign a framework agreement for free trade with the Association of Southeast Asian Nations in mid-December.
South Korea and the Association of Southeast Asian Nations (ASEAN) have made substantial progress in their negotiations on a free trade agreement, the Foreign Ministry said Sunday.
South Korea is expected to conclude free trade agreement (FTA) negotiations with the Association of South East Asian Nations (ASEAN) within the year as the fifth round of FTA talks between the two sides have shown significant progress, according to the Ministry of Foreign Affairs and Trade on Sunday.
Korea and ASEAN will hold the first round of official negotiations for the Korea-ASEAN FTA on February 23-25, 2005, in Jakarta, Indonesia.
Negotiations on the proposed ASEAN-Korea Free Trade Agreement (AKFTA) is expected to commence next year as ASEAN and Korean leaders are seen to favorably endorse the recommendations at the forthcoming ASEAN-Korea Summit this month.