Imports Group Goes to S. America
By Jane Han
Staff Reporter
A delegation of the nation's largest imports group will be headed to South America Monday to help expedite the signing of a free trade agreement (FTA) and secure raw materials, according to the Korea Importers Association (KOIMA).
Thirty members of the group, led by chairman Kim Wan-hee, is scheduled to visit Brazil, Argentina, Uruguay and Peru during their 15-day mission.
KOIMA said the delegation will have official meetings with high-ranking government officials there to help speed up a free trade accord with South Korea, and also meet with business executives to seek ways to import raw materials on a stable basis.
``We think now is a crucial time for us to aggressively step up our activities overseas to overcome the current economic slump,'' Kim said in a statement.
KOIMA has sent delegations all over the world numerous times a year for the past 38 years to help secure key raw materials, natural resources and up-to-date technology needed to help boost the domestic economy. The group consists of 13,000 members.
Kim said South Korea is one of the most representative countries in the world that has seen immense growth through trade.
``We're the 11th-largest exporting nation, but because we've only stressed exporting so much, the positive title works against us at the negotiation table,'' he said, explaining that counterparts often bluntly pressure Korean firms to import more.
Kim said many efforts are being made to prevent trade friction and to bring in top quality raw materials and natural resources at a value price. Imports info sessions, imported goods fairs and dispatching trade missions were among the things he highlighted.
He also stressed that the upcoming trip carries more meaning because it is the first trade delegation to South America since President Lee Myung-bak's recent state trip there.
``It's an opportunity for us to actually build on the progress made between the two sides,'' said Kim, stressing his hopes that KOIMA's trip will speed up the FTA talks between Seoul and MERCOSUR, the South Common Market that includes Argentina, Paraguay, Uruguay and Brazil.
``Our technological edge and South America's rich natural resources will help bring about a powerful synergy effect,'' said Kim, adding that his group will also send out delegations to the Middle East, Africa and Central Asia to support the government's ``natural resource diplomacy.''