Trade activities between ASEAN and the Republic of Korea (RoK) will be promoted as the two sides have signed an agreement fostering their customs cooperation, announced the Korea Customs Service (KCS) on May 22.
Trade activities between ASEAN and the Republic of Korea (RoK) willbe promoted as the two sides have signed an agreement fostering theircustoms cooperation, announced the Korea Customs Service (KCS) on May22.
The agreement was reached at the 11 th annual meeting of customs chiefs of ASEAN and KCS held in Brunei on May 21.
Thetwo sides committed to joining hands in implementing the agreement ontrade facilitation inked at the World Trade Organisation (WTO) inNovember, 2014. They also pledged to prioritise customs clearance forenterprises with transparent customs profile.
KCS will provide support for ASEAN members in customs staff training.
ASEANis the second largest importer of RoK products, following China. In thefirst four months of this year, the RoK raked in only 38.55 million USDfrom selling commodities to the ASEAN market.-VNA
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
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