ID :
30831
Tue, 11/18/2008 - 16:42
Auther :
Shortlink :
http://m.oananews.org//node/30831
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Lee calls for speeding up talks on Korea-MERCOSUR FTA
SAO PAULO, Nov. 17 (Yonhap) -- South Korean President Lee Myung-bak on Monday called for accelerating preparations to launch free trade agreement negotiations between South Korea and MERCOSUR, which refers to a South American trade bloc comprising Argentina, Paraguay, Uruguay and Brazil.
"South Korea and MERCOSUR countries have completed a joint feasibility study on
bilateral FTA, but have yet to open FTA negotiations. A successful conclusion of
the Korea-MERCOSUR FTA will further upgrade bilateral cooperative relations," Lee
in a speech to a meeting of Korean and Brazilian business leaders in Sao Paulo.
The idea of a Korea-MERCOSUR FTA was first floated during former South Korean
President Roh Moo-hyun's visit to Brazil in 2004. MERCOSUR represents a total
population of 190 million living in an area larger than the total surface of the
European continent.
Lee, who arrived here earlier on Monday after attending the Group of 20 summit in
the U.S., also mentioned the need to deepen economic and industrial cooperation
between South Korea and Brazil.
"While in Brazil, I will establish a Korea-Brazil industrial cooperation
committee to promote fusion cooperation and corporate investments between the two
countries. Through the committee, both sides will also push to set up bilateral
industrial cooperation fund and center."
The president picked three broad areas -- mineral resources and plant business;
oil development and shipbuilding; and biofuel, auto and green industry -- as
targets for the Korean-Brazilian fusion cooperation.
"The South Korean and Brazilian economies can complement each other. Their closer
cooperation would create enormous synergies," said the president. "The flex-fuel
vehicles, for instance, which are powered by Brazilian bio-ethanol, can be
another promising area for bilateral cooperation."
In this regard, Lee's aides explained that the combination of Brazil's abundant
resources, including iron ore and uranium, and South Korea's competitiveness in
plant industries, such as electric power, steel and petrochemicals, would
generate strong synergistic effects.
Lee will fly to Brasilia, the capital city, on Tuesday. He will hold summit talks
with Brazilian President Luiz Inacio Lula da Silva on Wednesday for discussions
on expanding bilateral cooperation in the fields of resources, infrastructure
expansion and agriculture, according to presidential spokesman Lee Dong-kwan.
Measures to deepen bilateral cooperation in overcoming the global financial
crisis will also be on the agenda, said the spokesman.
At the G-20 summit, Korea and Brazil were selected together with Britain as a
troika of moderator countries to play a leading role in preparing policy agendas
for the next G-20 summit slated for April in London.
Following his Brazilian trip, President Lee plans to visit the Peruvian capital
of Lima for a state visit and to attend the annual APEC summit from Thursday to
Sunday.
"South Korea and MERCOSUR countries have completed a joint feasibility study on
bilateral FTA, but have yet to open FTA negotiations. A successful conclusion of
the Korea-MERCOSUR FTA will further upgrade bilateral cooperative relations," Lee
in a speech to a meeting of Korean and Brazilian business leaders in Sao Paulo.
The idea of a Korea-MERCOSUR FTA was first floated during former South Korean
President Roh Moo-hyun's visit to Brazil in 2004. MERCOSUR represents a total
population of 190 million living in an area larger than the total surface of the
European continent.
Lee, who arrived here earlier on Monday after attending the Group of 20 summit in
the U.S., also mentioned the need to deepen economic and industrial cooperation
between South Korea and Brazil.
"While in Brazil, I will establish a Korea-Brazil industrial cooperation
committee to promote fusion cooperation and corporate investments between the two
countries. Through the committee, both sides will also push to set up bilateral
industrial cooperation fund and center."
The president picked three broad areas -- mineral resources and plant business;
oil development and shipbuilding; and biofuel, auto and green industry -- as
targets for the Korean-Brazilian fusion cooperation.
"The South Korean and Brazilian economies can complement each other. Their closer
cooperation would create enormous synergies," said the president. "The flex-fuel
vehicles, for instance, which are powered by Brazilian bio-ethanol, can be
another promising area for bilateral cooperation."
In this regard, Lee's aides explained that the combination of Brazil's abundant
resources, including iron ore and uranium, and South Korea's competitiveness in
plant industries, such as electric power, steel and petrochemicals, would
generate strong synergistic effects.
Lee will fly to Brasilia, the capital city, on Tuesday. He will hold summit talks
with Brazilian President Luiz Inacio Lula da Silva on Wednesday for discussions
on expanding bilateral cooperation in the fields of resources, infrastructure
expansion and agriculture, according to presidential spokesman Lee Dong-kwan.
Measures to deepen bilateral cooperation in overcoming the global financial
crisis will also be on the agenda, said the spokesman.
At the G-20 summit, Korea and Brazil were selected together with Britain as a
troika of moderator countries to play a leading role in preparing policy agendas
for the next G-20 summit slated for April in London.
Following his Brazilian trip, President Lee plans to visit the Peruvian capital
of Lima for a state visit and to attend the annual APEC summit from Thursday to
Sunday.
