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Jakarta Post

Economy in brief: S. Korea, Indonesia to continue FTA talks

  • The Jakarta Post

    The Jakarta Post

  /   Mon, November 4, 2013   /  10:00 am

SEOUL: South Korea and Indonesia will hold the sixth round of negotiations for a bilateral free trade agreement (FTA) in Bali this week, South Korean news agency Yonhap reported on Sunday.

The talks will be held for five days from Nov. 4 to Nov. 8, according to South Korea'€™s Ministry of Trade, Industry and Energy.

During the FTA talks, the two countries are expected to hold comprehensive discussions on investments, customs, regulations, as well as trade partnerships on goods and services.

Recently, in September, both countries held the fifth round of the comprehensive economic partnership agreement (CEPA), an FTA component, in Seoul. Both countries first launched CEPA negotiations in March 2012.

Currently, Indonesia is South Korea'€™s seventh-largest investment destination in the world. As of 2012, Indonesia was South Korea'€™s eighth-largest trading partner, with the bilateral trade volume reaching US$29.6 billion, according to the ministry.

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