Korea, Peru to Conclude FTA Talks Early
By Na Jeong-ju
Staff Reporter
The leaders of South Korea and Peru agreed Thursday to push for an early conclusion to their free trade talks and take further measures to promote their economic exchanges.
At a summit at Cheong Wa Dae, President Lee Myung-bak and Peruvian President Alan Garcia also called for the need to improve cooperation in trade, investment, resources and energy, as well as in the defense and cultural sectors.
President Garcia pledged to ease rules to attract more South Korean investment in Peru's petro-chemical industry, saying the combination of Korea's information technology and Peru's abundant resources will create mutually beneficial opportunities for both countries.
Lee and Garcia agreed on the importance of concluding negotiations for an FTA at an early date to help contribute to the prosperity and welfare of their countries and people, according to a joint statement issued at the end of the summit.
President Lee said bilateral economic cooperation would create new opportunities and help Peru become one of the fastest growing economies in South America.
Garcia, too, noted that the friendship and cooperation between the two countries would help provide new sources of growth for both nations. In particular, he expressed gratitude for Korea's investment in Peru and pledged efforts to encourage more investment.
The leaders said that the bilateral relationship had steadily improved since they established diplomatic ties in 1963 and reaffirmed their commitment to further expand their cooperation in dealing with bilateral and international issues.
They also pledged to support a peaceful resolution of the North Korean nuclear issue while urging for the communist nation's immediate return to the six-nation nuclear negotiations.
Lee and Garcia will leave today for Singapore to attend the annual Asia-Pacific Economic Cooperation (APEC) summit.