Our top story this afternoon...
Korea's free trade deal with Vietnam is a step closer to going into effect,... as officials from both countries signed the pact in Hanoi earlier today.
Seoul's trade ministry says the FTA will remove tariffs on over 90 percent of import volume between the two countries.
The agreement is expected to give Korean products a competitive edge,... as it will lift tariffs on Korea's major export items, like electronics, cosmetics and automobiles over the next ten years.
With a population of over 90-million,...Vietnam is the second-biggest market in the ASEAN region.
Talks on this FTA concluded in December last year,...after almost two-and-a-half years of negotiations.
Now, the two countries will work toward ratifying the bill,...aiming to implement the pact before the year is out.
