SEOUL, April 24 (AJP) - An agreement on economic cooperation between South Korea and Moldova took effect on Friday, according to the Ministry of Foreign Affairs.
The agreement aims to strengthen bilateral cooperation across various sectors, including science and technology, energy, and transportation, laying the groundwork for a more comprehensive partnership between the two countries.
Under the agreement, the two countries will establish a joint committee to review and implement projects, which is also expected to promote mutual exchanges among experts, scientists, and students through international fairs and exhibitions, thereby fostering industrial collaboration and broader professional networks.
Bilateral trade stood at just $118 million last year, but both sides see room for growth. South Korea exports automobiles, steel, and cosmetics, while importing wine and agricultural products from Moldova.
"We will continue to seek economic cooperation with promising markets to support South Korean companies' global expansion," a ministry official said, adding that the latest agreement would help broaden the country's foothold in emerging markets in Europe.
South Korea currently has similar pacts signed or implemented with over 100 countries.
The agreement aims to strengthen bilateral cooperation across various sectors, including science and technology, energy, and transportation, laying the groundwork for a more comprehensive partnership between the two countries.
Under the agreement, the two countries will establish a joint committee to review and implement projects, which is also expected to promote mutual exchanges among experts, scientists, and students through international fairs and exhibitions, thereby fostering industrial collaboration and broader professional networks.
Bilateral trade stood at just $118 million last year, but both sides see room for growth. South Korea exports automobiles, steel, and cosmetics, while importing wine and agricultural products from Moldova.
"We will continue to seek economic cooperation with promising markets to support South Korean companies' global expansion," a ministry official said, adding that the latest agreement would help broaden the country's foothold in emerging markets in Europe.
South Korea currently has similar pacts signed or implemented with over 100 countries.
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