The Association of Southeast Asian Nations (ASEAN) has become the second largest trade partner of the Republic of Korea (RoK) four years after the RoK-ASEAN Free Trade Agreement took effect.
Two-way trade turnover between ASEAN and the RoK climbed up to 106.8 billion USD in May 2011, just after ASEAN-China bilateral trade revenues, said the RoK’s Foreign Ministry on May 31.
Before the agreement went into effect in June 2007, ASEAN was the RoK’s fifth largest trade partner.
The RoK is currently seeking to forge separate bilateral free trade pacts with Vietnam, Malaysia and Indonesia to further expand trade relations
with the three nations.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Before the agreement went into effect in June 2007, ASEAN was the RoK’s fifth largest trade partner.
The RoK is currently seeking to forge separate bilateral free trade pacts with Vietnam, Malaysia and Indonesia to further expand trade relations
with the three nations.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
VOVNews/VNA
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