(VOVworld)- The Republic of Korea and Vietnam began the fifth round of free trade agreement (FTA) talks in Seoul on May 20 in an effort to reach a deal later this year. During the four-day round, both sides will have an in-depth discussion on commodities, services, investment, rules of origin,  customs procedures, and cooperation. A release from the Republic of Korea’s Ministry of Trade, Industry and Energy (MOTIE) says that once the trade pact is signed, it will open up new opportunities for strengthening economic and trade ties between the two countries. Notably, the pact will offer trade and investment liberalisation at a higher level than another FTA between the Republic of Korea and ASEAN. Vietnam and the Republic of Korea launched FTA negotiations in November 2012, and they aim to end negotiations later this year.