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(KPL/Yonhap) Republic of Korea and Thailand were set to kick off their intersessional negotiations for a bilateral economic partnership agreement (EPA) Tuesday, as the two sides seek to expand economic ties amid global trade uncertainties, Seoul's industry ministry said.
(KPL/Yonhap) Republic of Korea and Thailand were set to kick off their intersessional negotiations for a bilateral economic partnership agreement (EPA) Tuesday, as the two sides seek to expand economic ties amid global trade uncertainties, Seoul's industry ministry said.
The intersessional talks will run for four days through Friday in Bangkok, according to the Ministry of Trade, Industry and Energy.
This week's meeting will be focused on making progress in seven sectors, including goods, services, investment and digital economy, it added.
The two countries held their sixth round of official EPA negotiations in Seoul in June, with the seventh round of talks scheduled to take place after August.
An EPA is a type of free trade agreement that often involves provisions for development assistance and cooperation.
"The Korean government will pursue flexible and diverse trade agreements with Global South countries that possess high growth potential and strategic value with their critical mineral resources, such as Thailand, Bangladesh and Pakistan," said Roh Keon-ki, deputy minister for trade negotiations at the ministry.
"Through these efforts, the government plans to help Korean companies expand their business overseas, increase exports and diversify trade destinations amid growing challenges in the global trade environment, including the weakening of the multilateral trade system under the World Trade Organization and the rise of trade protectionism," he added.
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