Peru wants to fast-track Korean free trade deal
Published: 02 Sep. 2009, 02:59
President Lee Myung-bak shakes hands with Peruvian Foreign Minister Jose Garcia Belaunde who made a courtesy call yesterday to the Blue House. [Joint Press Corps]
Jose Garcia Belaunde made his comments during discussions with President Lee Myung-bak about the bilateral free trade deal and the two countries’ official relationship during a meeting at the Blue House yesterday.
The deal, if signed, will be Korea’s second free trade agreement with a South American nation. The Korea-Chile FTA was signed in 2003 and implemented the following year. President Alan Garcia will visit Seoul in November.
According to the Korean Chamber of Commerce and Industry, trade between Korea and Peru has increased from $400 million in 2004 to $1.6 billion last year. Korea’s direct investment in Peru totaled $1.18 billion in 2008. South Korean firms are seeking to take part in Peru’s ethylene plant construction project and exploration of uranium.
Belaunde also met with his Korean counterpart, Yu Myung-hwan, and Korean businessmen to promote the free trade deal.
South Korea and Peru agreed yesterday to deepen their cooperation in the energy sector to follow up on an agreement between their leaders last year, officials here said after talks between Yu and Belaunde.
Belaunde arrived in Seoul on Monday for a three-day stay, during which he also plans to tour oil refineries and chemical factories in Ulsan, an industrial city 420 kilometers (261 miles) southeast of Seoul, for discussions on South Korea’s bid to participate in facility construction in his country.
President Lee also met with Argentina’s visiting foreign minister, Jorge Taiana, yesterday afternoon and invited his Argentine counterpart, Cristina Fernandez de Kirchner, to visit Seoul.
By Ser Myo-ja [[email protected]]
with the Korea JoongAng Daily
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