According to Yonhap News,
South Korea's trade ministry said Wednesday it has held the second round of talks for an Economic Partnership Agreement (EPA) with Thailand, aimed at broadening their trade portfolio.
During the three-day meeting in Seoul, the two countries plan to discuss the outcomes of the first round of talks held in July and work to narrow differences, according to the Ministry of Trade, Industry and Energy.
The two sides will cover 12 segments, including government procurement, customs, intellectual property and economic cooperation, it added.
An EPA aims to establish a mutually beneficial trade network with partner nations beyond a simple market opening, though it covers a smaller scope compared with a traditional free trade agreement.
Trade Minister Cheong In-kyo, meanwhile, held a separate meeting with Thai Deputy Commerce Minister Suchart Chomklin to discuss bilateral economic ties ahead of the negotiation, the ministry added.
"We hope that the two countries can come up with a customized trade agreement that focuses on improving bilateral economic cooperation, in line with new international trade norms and a future-oriented vision," Cheong said in a statement.
Thailand is South Korea's 18th-largest trade partner and the fifth-biggest among Southeast Asian nations.
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Source: Yonhap News (September 25, 2024)