Thailand, S Korea talk economic partnership deal
Thailand and South Korea held their first round of talks on an economic partnership agreement (EPA) on July 9-11, seeking to pave the way for a free trade deal between the two countries by late 2025.
Chotima Iemsawasdikul, director-general of the DTN, and Roh Keon-ki, deputy minister for trade negotiations from South Korea's Ministry of Trade, Industry and Energy, during the first round of negotiations held in Bangkok from July 9-11. Photo courtesy of bangkokpost.com.
The round was hosted by the Thai Department of Trade Negotiations (DTN), said Thai Deputy Minister of Commerce Suchart Chomklin.
The Thai delegation was led by Chotima Iemsawasdikul, director-general of the DTN, while the South Korea delegation was headed by Roh Keon-ki, deputy minister for trade negotiations from South Korea's Ministry of Trade, Industry and Energy.
Suchart said the agreement will upgrade the mutual trade relationship, with South Korea investing more in Thailand, while shipments to Seoul increase for meat and fishery products, tropical fruits (such as mango, guava and mangosteen) and wood products.
Last year, South Korea was Thailand's 12th largest trade partner with $4.7 billion in two-way trade. Thailand's exports fetched $6.07 billion, while imports were valued at $8.66 billion.
Thailand's key exports to South Korea include refined oil, rubber products, sugar, electrical circuits, and aluminum products, and key imports are machinery and mechanical components, chemical products, iron and steel, and electrical circuits.
In the first five months of this year, trade between Thailand and South Korea hit $6.30 billion, with Thai exports valued at $2.51 billion.
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