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Rome agrees to assist Seoul in EU free trade pact

Published: 15 Sep. 2009, 02:00

The presidents of South Korea and Italy agreed yesterday to bolster the two countries’ ties, including ways to collaborate at the multilateral meetings of global leaders and to speedily conclude and implement the free trade agreement between Korea and the European Union.

During a four-day state visit this week to Seoul, Italian President Giorgio Napolitano discussed with President Lee Myung-bak ways to improve their two countries’ 125-year-old ties. Napolitano is the first Italian president to visit Korea since Seoul and Rome tied diplomatic knots in 1884.

Lee and Napolitano agreed to work more closely during international gatherings such as the Group of Eight and Group of 20 summits, the Blue House said in a press release. Italy holds the G8 presidency this year and South Korea is a member of the G-20 management troika. “President Lee also asked his counterpart to join forces and provide active support to ensure that the next G-20 summit is convened in Korea,” the Blue House said.

Leaders of the Group of 20 will meet next week in Pittsburgh in the United States. Korea has made a significant diplomatic pitch to host the global conference next year.

“On top of this, President Lee expressed his appreciation to the Italian president for his country’s endorsement of the Korea-EU FTA in July on the occasion of the G8 expanded summit in L’Aquila [in Italy],” the Blue House said. “[Lee] asked for the Italian government’s enhanced support and collaboration for the early conclusion of the FTA.”

In July, Korea and the European Union tentatively concluded free trade negotiations, a breakthrough expected to aggressively boost bilateral commercial exchanges of more than $98 billion. A series of working-level processes remain before the trade agreement takes effect. After legal review, the agreement needs to be translated into the 23 official languages of the 27 EU member nations, and each country must officially sign the translated agreement. Then it must be ratified by Korea’s National Assembly and the European Parliament.

During their summit, Lee also urged that Italy actively participate in the 2012 Yeosu World Expo. “He said that the two countries needed to cooperate closely and share expertise, particularly because the city of Milan is to host the international expo in 2015,” the Blue House said. “His Italian guest concurred wholeheartedly.”

The Italian leader noted that a series of events linking Korea and Italy is taking place during his stay in Korea, the Blue House said, adding that Napolitano proposed further cooperation between the two countries on cultural exchanges. The cities of Incheon and Milan agreed last year to build Asia’s largest convention, industrial and residential hub on Yeongjong Island near Incheon International Airport. The Milano Design City project was set to be completed by 2017, and exhibitions featuring Italian design and the works of Leonardo da Vinci were recently opened in the complex.

According to the Blue House, Napolitano also showed support for Lee’s North Korea policy on dismantling Pyongyang’s nuclear arms program and promised to work closely with Seoul to implement UN sanctions against the North. Napolitano, who arrived in Korea Sunday, will leave tomorrow.

By Ser Myo-ja [[email protected]]