Korea-Mexico Cooperation
Korea and Mexico are organizing an economic cooperation council for a better partnership. The financial ministers of both countries discussed mutual cooperation in the framework of a council from the second half of this year.
Deputy Prime Minister and Minister of Strategy & Finance Hyun Oh-seok, who is visiting Brazil to attend the annual American Development Bank (IDB) meeting, met with Mexican Financial Minister Luis Videgaray on March 30 (local time) and agreed to the establishment of the council, which is to cover various issues ranging from economic and industrial cooperation to construction, energy, education, information technology, agriculture, and finance.
The Korean government is planning to ask for Mexico’s cooperation so that more Korean companies can participate in its national projects in the fields of gas and oil supply, transport, telecoms infrastructure construction, and others. At the same time, it is going to seek measures for more investment and trade in sectors such as electronics, steelmaking, automobile, IT, and transport logistics.
“I hope that the cooperation between Latin America and Korea will lead to a series of tangible results in the private sector as well as the public sector,” the Deputy Prime Minister said during his closing speech for the annual meeting. He added, “I am planning to prepare various programs such as the Korea-Latin American Business Forum for the IDB General Meeting scheduled for next year, so as to boost economic collaboration in the private sector.” The upcoming IDB General Meeting takes place at the BEXCO Convention Center in Busan City in March 2015.