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One of the more pressing challenges in U.S.-Vietnam trade concerns American protectionism against a fish, the pangasius, which accounts for 2% of Vietnam's GDP. By JOHN CONNELLY
The Republic of Korea (RoK) is the second largest trade partner (behind China) with which ASEAN (Association of South East Asian Nations) has signed a free trade agreement (FTA). The negotiation process began in 2004 when the leaders of ASEAN and the RoK signed a joint statement on comprehensive economic cooperation between the two sides, affirming their wish to establish the ASEAN-Korea Free Trade Area (AKFTA) covering the fields of trade in goods, trade in services, and investment. In 2005, ASEAN and the RoK signed a framework agreement on comprehensive economic cooperation. After that the two sides signed agreements in specific fields to create the legal foundation for AKFTA to be formed. It can be said that AKFTA has benefited and is benefiting Vietnamese companies.
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