A bilateral economic cooperation agreement between South Korea and Moldova took effect on Friday, the foreign ministry said. It paves the way for broader partnerships in energy, transportation, and science and technology. The pact will allow South Korean companies wider access to the region.
South Korea's foreign ministry announced on Friday that a bilateral economic cooperation agreement with Moldova has come into force. The pact serves as a basic framework for economic ties with the Eastern European nation, enabling wider access for South Korean companies to the region.
The agreement was signed on February 19 in Moldova by Korean Ambassador to Ukraine Park Ki-chang and Moldova's Deputy Prime Minister and Minister of Economic Development and Digitalization Eugen Osmochescu. A photo courtesy of the ministry shows the two posing after the signing.
Moldova, a landlocked country bordering Romania and Ukraine, is pursuing industrial modernization, including a digital transition. Last year's bilateral trade reached $118 million, with South Korea mainly exporting automobiles, steel, and cosmetics, while importing wine and agricultural products.
With this agreement now effective, South Korea holds similar economic cooperation pacts with 100 countries worldwide, according to the ministry.
