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Vietnam, S. Korea to discuss directions for implementation of FTA

Xinhua, May 14, 2015 Adjust font size:

Vietnam and South Korea will discuss directions for the implementation of the Free Trade Agreement (FTA) which was signed recently.

The discussion is included in the agenda of a working visit by Vietnamese Deputy Prime Minister Vu Van Ninh to South Korea on May 17-20, according to Le Hai Binh, spokesperson of Vietnam's Ministry of Foreign Affairs on Thursday.

"The visit aims to maintain regular contacts, enhance trust and increase cooperation between high-level leaders of the two countries. The visit will reaffirm Vietnam's wish to promote strategic partnership," said Binh at a regular press briefing held in Vietnam's capital Hanoi.

"Both sides will discuss major aspects of bilateral cooperation in investment, trade, finance and banking as well as future directions for the implementation of FTA after signing," Binh said.

Vietnam and South Korea formally signed an FTA in Hanoi last Tuesday. After the signing, both sides will ratify the agreement following each country's legal regulations.

The Vietnam-South Korea FTA will come into effect on the first day of the second month from the date when the completion of the internal procedures is announced in writing through diplomatic channels or from another date as agreed by the two sides. Endi