Binh Thuan leaders urge to deploy Vietnam – South Korea Free Trade agreement

11/01/2016, 14:56

BTO – Under document of the Binh Thuan provincial People’s Committee on Jan 6th 2016, the Department of Industry and Trade is requested to carry out the bilateral free trade agreement between Vietnam and South Korea (VKFTA) in accordance with the guidance of the Ministry of Industry and Trade.

The VKFTA, which came into effect on December 20^th 2015, consists of 17 chapters, 208 articles, 15 annexes and 1 agreement to implement the regulations. The trade pact covers a wide range of initiatives, among them tariff elimination and reduction, investment, intellectual property, customs facilitation, trade safeguards, technical barriers to trade, e-commerce, competition, and institutional and economic cooperation, etc.

The signing and deploying VKFTA marks strategic steps of Vietnam in international integration. Since then, it can foster the country in the process of mechanism transfer, industrialization and modernization. Moreover, the trade pact helps develop strategic partnership between Vietnam and South Korea towards stable, sustainable, long-term orientation, contributing to maintaining and promoting peace and stability in the region.

My Thien (Source: Binh Thuan Newspaper)

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