Deputy Minister of Trade, Industry and Energy for FTA (Free Trade Agreement) Negotiations Roh Keon-ki (left) in March announces the official launch of negotiations on a bilateral economic partnership agreement with Thailand with Deputy Prime Minister of Thailand and Minister of Commerce Phumtham Wechayachai (center) at the Thai Ministry of Commerce in Bangkok. (Ministry of Trade, Industry an Energy)
By Park Hye Ri
Bilateral negotiations have begun with Thailand on the conclusion of an economic partnership agreement (EPA).
The Ministry of Trade, Industry and Energy in Seoul on July 9 said delegations from both countries began that day their first round of EPA negotiations over three days in Bangkok, Thailand.
Led by Deputy Minister for FTA (Free Trade Agreement) Negotiations Roh Keon-ki, the delegation comprised officials from related ministries including that of trade; Ministry of Economy and Finance; Ministry of Agriculture, Food and Rural Affairs; and Ministry of Health and Welfare.
The Thai delegation was led by Chotima Iemsawasdikul, director-general of the Department of Trade Negotiations at the Thai Ministry of Commerce. The talks will focus on goods, services, investment, digital, government procurement, intellectual property rights and cooperation.
Since declaring the launch of EPA negotiations in March, both sides have pursued preliminary tasks including preparation of a draft accord and consulting related ministries. In this first round of talks, they will lay the foundation for speeding up the process by identifying their positions on the EPA by sector, reviewing issues and devising responses.
As the second-largest economy in the Association of Southeast Asian Nations (ASEAN), Thailand is also the region’s top manufacturing country. Conclusion of the EPA is expected to emerge as a bridgehead that raises the competitiveness of Korean exporters of goods and services and stimulates entry by small and medium businesses into ASEAN.
“Korea already has trade deals with Thailand like the Korea-ASEAN FTA and Regional Comprehensive Economic Partnership, but we still have room for improvement in bilateral cooperation in trade and economy,” Deputy Minister Roh said. “The Korea-Thailand EPA, a customized trade agreement between both countries, will serve as a systematic foundation to upgrade economic cooperation between the two countries.”
hrhr@korea.kr
