DTN chief meets top South Korean trade official to discuss new FTA
The Department of Trade Negotiations (DTN) chief was in Seoul last week to meet her South Korean counterpart to discuss the setting up of a special free trade agreement.
Auramon Supthaweetham, DTN director-general, said on Tuesday that she had met Ahn Chang Yong, director of South Korea’s Trade, Industry and Energy Ministry, last Friday. She said the subject on the agenda was devising an economic partnership agreement (EPA) between the two countries.
Auramon said the EPA would take the form of a bilateral free trade accord over and above the two existing FTAs between Asean and South Korea and the Regional Comprehensive Economic Partnership (RCEP).
Auramon said the Thai side was studying the pros and cons of signing a direct free-trade agreement with South Korea, and DTN will soon hold public hearings before presenting the results to the new Cabinet to deliberate.
She added that the South Korean side has completed its public hearings and consultations with stakeholders.
A direct FTA with South Korea will benefit Thailand’s export of fruit as well as frozen and processed seafood.
As of July this year, bilateral trade between Thailand and South Korea was valued at US$9 billion (316.34 billion baht), which accounted for Thailand’s exports worth $3.73 billion and imports of $5.27 billion.
