Posted on 28 Jan 2015
Thailand will host the 11th Meeting of the ASEAN-South Korea Free Trade
Agreement (AKFTA) Implementing Committee in Ubon Ratchathani from Jan 27
to 29, reports Vietnam News Agency (VNA).
Thawatchai Sophastienpong, Director-General of the Department of Trade
Negotiations, said the meeting will discuss the opening of new markets
for sensitive products and amendments to trade regulations to ease
restrictions.
It will also discuss ways to enhance the utilisation of AKFTA to
achieve the projected trade revenue target at US$150 million by 2015 and
US$200 million by 2020.
Trade between Thailand and South Korea from January to November last year stood at US12.7 billion, up 7 per cent year-on-year.
South Korea is ranked as the 10th trading partner of Thailand, and the
latter has recorded a balance of trade surplus with the former.
Thailand mainly exports electrical appliances, automobile and oil to
South Korea while importing steel machinery, chemicals and electric
equipment.
Previously, the 2014 ASEAN-South Korea Commemorative Summit was held in the city of Busan, South Korea on Dec 11-12 last year.
