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But First! The Free Trade Talks Announcement!

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But First! The Free Trade Talks Announcement!
June 30, 2010 12:26PM
(Nothing Like Having A Senior memone)

MEXICO CITY (AFP) – South Korean President Lee Myung-Bak said he hoped for renewed talks on a free trade agreement with Mexico, in an interview ahead of his arrival here Wednesday for a state visit.

"I hope that negotiations for the FTA (Free Trade Agreement) will restart between the two countries," Lee said in an interview with Mexico's El Universal newspaper in which he underlined growing South Korean business investment in Mexico.

South Korean investment amounted to some 290 million dollars in 2008, more than Japan or China, Lee said, adding that some 1,400 companies in the electronic, steel and car parts sectors provide employment for more than 40,000 Mexicans.

South Korea's largest steelmaker POSCO last year opened its first overseas automobile sheet plant in Mexico to meet growing demand from US carmakers.

South Korea is Mexico's sixth business partner.

Lee's visit was to include talks with President Felipe Calderon before a state dinner at Chapultepec Castle, in Mexico City, on Thursday.

The leaders would sign nine memorandum of understanding accords to reinforce business ties, energy efficiency, scientific technology and fishing, said Lee, who was traveling with a large delegation of business people.

The countries agree on international issues such as climate change and the reform of the United Nations, said a statement from Mexico's foreign ministry.

Lee was due to meet members of the Korean diaspora in Mexico on Wednesday, and to visit the senate and the capital's famed anthropological museum on Thursday before leaving on Friday.

Lee discussed economic cooperation with Central American leaders in Panama this week ahead of his Mexico visit.
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