By Michael Ha
Staff Reporter
President Lee Myung-bak, together with leaders from China and Japan, will convene a summit next month in Fukuoka, Japan. The three leaders will discuss ways of tackling the global economic downturn.
It would be the first time that the three Asian countries hold such a summit. They have met alongside Southeast Asian Nations conferences before but this would be the first time for them to meet in a three-way summit.
President Lee will meet with Chinese Premier Wen Jiabao and Japanese Prime Minister Taro Aso at the gathering, scheduled for Dec. 13. They will talk about possibly expanding the Chiang Mai Initiative, an agreement of bilateral currency swaps in the region, as well as other ways to stabilize financial markets. They will also discuss regional security issues including the North Korean denuclearization.
Meanwhile, President Lee is currently in Lima, Peru, for a four-day official visit.
During his stay there, he will take part in the 16th Asian Pacific Economic Cooperation (APEC) summit and talk with several heads of state.
On Saturday, Lee is to meet Peruvian President Alan Garcia to talk about free trade and improving Korea-Peruvian ties. Lee plans to announce that the two nations will start negotiating a free trade agreement early next year. President Lee has said he wants to see the two countries boost trade and investment exchanges. Currently, the annual two-way trade is worth some $1.5 billion.
The Peruvian government has been actively seeking out free trade deals with trading partners. It now has signed trade deals with Canada, Singapore, the United States and Thailand. And it just concluded FTA talks with China this month.
Lee will meet with U.S. President George W. Bush and Japanese Prime Minister Taro Aso who are also attending the APEC gathering. The three leaders will focus on the global economic slowdown and also dealing with the North Korean nuclear issue.
During his three-way meeting with Bush and Aso, President Lee will stress close cooperation on the North Korean nuclear issue. He will also talk about the importance of pursuing principled engagement and dialogue with Pyongyang.
President Lee will be the first keynote speaker at the APEC meeting. He will talk about the increasing role that Asian countries are playing in the global economy, and he will discuss Korea's experience in overcoming the 1997 currency crisis and the need for international cooperation in resolving the current economic problem.
Lee will also continue to speak out against trade protectionism and make his case for offering more financial aid and foreign currency loans to emerging economies.