Seoul:<Text>

A bilateral economic cooperation agreement between South Korea and Moldova came into force Friday, the foreign ministry announced, paving the way for a broader partnership in areas ranging from energy and transportation to science and technology. The agreement is expected to serve as a foundational framework for fostering economic collaboration with the Eastern European nation, enabling South Korean companies to gain greater access to the region.

According to Yonhap News Agency, Moldova is pursuing industrial modernization efforts, including a digital transition. The bilateral trade between the two countries reached US$118 million last year. South Korea primarily exports automobiles, steel, and cosmetics to Moldova, while it imports wine and agricultural products.

With this agreement taking effect, South Korea now has similar economic cooperation pacts with a total of 100 countries worldwide, the ministry stated.