SEOUL, KOREA - The second meeting for a Korea-Vietnam free trade agreement has begun in Hanoi, Vietnam. On May 22, representatives from both countries met in the Sofitel Plaza Hanoi including Bui Huy Son, director-general of the Asia-Pacific Market Department of the Vietnamese Ministry of Industry and Trade, and Choi Dong-gyu, director general for FTA policy of the Korean Ministry of Foreign Affairs and Trade.
Both sides will discuss matters including concession items, economic cooperation, investment, services, country of origin, and dispute settlement for the next three days. The working-level meetings are to be held about ten rounds.
The Vietnamese side is expected to demand more concessions on Korea's part as last year's Vietnamese trade deficit vis-a-vis Korea has surpassed US$10 billion for the first time in history. In 2012, Korea recorded a $10,236 million surplus on exports of $15,954 million and imports of $5,718 million.
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