South Korea is eager to conclude a free trade agreement with Thailand, President Lee Jae-myung said during talks with Prime Minister Anutin Charnvirakul.
According to Yonhap News Agency, citing the presidential spokesman, Mr Lee and Mr Anutin agreed to accelerate efforts to finalise the pact.
‘They agreed to join hands to swiftly strike a CEPA, which is currently under negotiation,’ presidential spokesman Kim Nam-joon said after the leaders’ first phone conversation.
South Korea refers to the proposed FTA with Thailand as a Comprehensive Economic Partnership Agreement (CEPA), reflecting its broader scope beyond trade issues.
Commerce Minister Suphajee Suthumphan earlier said that concluding the deal with South Korea was her top priority, adding that the two nations’ commitment would be formalised on the sidelines of the Asia-Pacific Economic Cooperation (Apec) meetings.
South Korea will host this year’s Apec forums in Gyeongju from 28 October to 1 November, beginning with a gathering of Asia-Pacific business leaders.
During the call, Mr Anutin said he hoped to see trade and investment between the two countries double to US$30 billion from the current US$15 billion, according to a statement from Thailand’s Government House.