South Korea–Moldova economic cooperation agreement comes into force

An economic cooperation agreement between South Korea and Moldova has officially entered into force on April 24, according to South Korea’s foreign ministry, cited by Yonhap.

The agreement establishes a framework for expanding bilateral cooperation in key sectors, including energy, transport, science, and technology, while also strengthening the overall basis for economic relations between the two countries.

Officials said the deal is expected to facilitate greater access for South Korean companies to markets in Eastern Europe. Moldova, which borders Romania and Ukraine, has been actively pursuing industrial modernisation and digital transformation initiatives.

Trade between the two countries reached approximately $118 million last year. South Korea primarily exports automobiles, steel, and cosmetics to Moldova, while importing wine and agricultural products.

With this agreement, South Korea now has around 100 economic cooperation frameworks in place with countries around the world, reflecting its continued effort to expand global trade partnerships.

By Vugar Khalilov