Korean Ambassador to Ukraine Park Ki-chang, right, poses with Eugen Osmochescu, Moldova's deputy prime minister and minister of economic development and digitalization, after signing a bilateral economic cooperation agreement in Moldova, Feb. 19. Courtesy of Ministry of Foreign Affairs
A bilateral economic cooperation agreement between Korea and Moldova came into force Friday, the foreign ministry said, paving the way for a broader partnership in areas ranging from energy and transportation to science and technology.
The agreement will serve as a basic framework for economic cooperation with the Eastern European country, allowing Korean companies wider access to the region, the ministry said.
Moldova, a landlocked country bordering Romania and Ukraine, is pushing for industrial modernization, including digital transition.
Bilateral trade reached $118 million last year, with Korea exporting mainly automobiles, steel and cosmetics while importing wine and agricultural products.
With the latest agreement taking effect, Korea holds similar economic cooperation pacts with a total of 100 countries around the world, according to the ministry.
Source: Korea Times News
