International Affairs Division / Construction Industry

Free Trade Agreement (FTA) and Economic Partnership Agreement (EPA)

While globalization of the economy advanced, our country promoted the FTA(Free Trade Agreement *1) and the conclusions of the EPA(Economic Partnership Agreement *2) under the recognition that both the FTA and EPA contribute to the security of development of foreign economic relations to supplement the WTO.

An economic ministers' meeting was set up in March 2004 to promote the efforts of the FTA/EPA by the government as a whole. At the third meeting held in December 2004, "a basic policy about the promotion of the future economic cooperation" was devised. The Ministry of Land, Infrastructure and Transport (Transportation Department) has been actively working to promote the liberalization of service trades (transportation and sightseeing fields). In particular, the Ministry of Land, Infrastructure and Transport is aiming to abolish and loosen various regulations and walls such as the foreign capital regulation and concerning transportation and tourist industries in partner countries . In particular, we have been working with bilateral cooperation in the field of sightseeing.

After the effective date of the EPA with Singapore, our country had an EPA with Mexico in April 2005, Malaysia in July 2006, the Philippines in September 2006, Brunei in June 2007, Indonesia in August 2007, Chile in September 2007 and Thailand in November 2007. In addition, EPA of the whole ASEAN has concluded negotiations in November 2007. Now we are continuing negotiations for the conclusion of FTAs and EPAs with the governments of Korea, Brunei, GCC (Gulf Cooperation Council), Vietnam, India, Australia, and Switzerland.

FTA / EPA (Foreign Minister Website)

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