Korean and Vietnamese leaders agree to seal FTA

Korean and Vietnamese leaders agree to seal FTA

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South Korean President Park Geun-hye and Truong Tan Sang – who is her Vietnamese counterpart – agreed on September 9, 2013 to complete a free bilateral trade agreement by 2014. Other agreements were to continue to boost cooperation in the nuclear power and energy industries.

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Summit talks were held between the two leaders in Hanoi and they adopted a joint statement which also promises to strengthen the strategic cooperative partnership between the two countries which were forged in 2009. The leaders also discussed working closely together on bilateral and international issues. Agreements were also made to speed up negotiations and achieve a high-standard, comprehensive FTA by 2014.

Two more rounds of talks will be held in October 2013, as well as later in 2013 and the last round of negotiations was held in May 2013. Park and Tam Sang specifically agreed that the South Korea’s experience in technology and nuclear power development will benefit Vietnam and they also agreed to continue their cooperation.

Moreover, the two leaders in a statement expressed concerns over the nuclear test of North Korea and reaffirmed their intolerance to the nuclear weapons of Pyongyang and also urged the reclusive state to implement international obligations to become responsible member of the international community.

Photo Credits: Viet Fish

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