Prime Minister Nguyen Tan Dung and RoK President Park Geun-hye witness the signing of an agreement to conclude FTA negotiation between the two countries in 2014. (photo: Duc Tam/VNA)

(VOVworld) – The Republic of Korea and Vietnam have initialed a free trade agreement to boost bilateral ties. According to the RoK’s Ministry of Commerce, Industry, and Energy, the deal will remove all tariff and non-tariff barriers. The South Korean government is expected to sign the official agreement in the first half of this year and will submit it to the parliament for approval this year.