ASEAN, RoK to raise bilateral trade to 200 billion USD by 2020

The ASEAN-Republic of Korea (RoK) strategic partnership plays an important role in the development both sides and East Asia, according to a recent ASEAN-RoK dialogue in Siem Reap, Cambodia.

ASEAN has become the RoK's second biggest trade partner thanks to the establishment of the ASEAN Economic Community in late 2015 and the bloc's rapid economic growth in recent years. The two sides aim to raise bilateral trade to 200 billion USD by 2020 with the enforcement of the ASEAN-Korea Free Trade Agreement and the 2016-2020 Action Plan.

Vietnam's Deputy Foreign Minister Nguyen Quoc Dung said at the dialogue that ASEAN nations wish to promote multi-faceted cooperation with the RoK, a strong member of the Asia-Pacific Economic Cooperation (APEC) and the G20.

Source: VOV5