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SINGAPORE: The signing of the ASEAN-Korea FTA Trade in Services Agreement took place on Wednesday during the 11th ASEAN-Republic of Korea Summit in Singapore.
The Agreement contains disciplines that largely mirror World Trade Organisation (WTO) rules.
Korea's offer goes beyond its WTO commitments and is better than its offer under the current Doha Round negotiations.
Companies will also stand to benefit from enhanced market access in sectors such as finance, education and environmental consultancy.
The ASEAN-Korea FTA Trade in Services Agreement is the second regional services agreement for ASEAN.
The first one, ASEAN-China FTA, was signed in January 2007.
- CNA/so
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