SEOUL, Jul 21 (Yonhap) – Foreign Minister Chung Eui-yong has called on Chile to support South Korea to join a regional trade bloc in Latin America, the foreign affairs ministry said on Wednesday. foreigners.
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Chung met in person with Chilean Foreign Minister Andrés Allamand in Seoul earlier today. Seoul is seeking to become an associate member of the Pacific Alliance (PA) in order to deepen economic ties with countries in the region.
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The PA was created in 2011 by Chile, Colombia, Mexico and Peru, which together represent 58% of the volume of trade in Latin America, in order to promote regional economic integration and develop trade with Asia-Pacific countries. South Korea is currently one of some 50 observer countries, along with the United States, China and Japan.
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“While noting that trade and investments with Chile have developed thanks to the bilateral free trade agreement (FTA), Minister Chung requested the cooperation of the Chilean side to resume the negotiation process with a view to South Korea’s membership of the PA as an associate member, ”the ministry said in a statement.
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During the talks, the two sides also discussed efforts to boost cooperation in a wide range of fields, including green hydrogen, digital technology and Antarctica, the ministry said.
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Allamand suggested the two countries could synergize with Chile’s vast renewable energy resources and South Korea’s advanced hydrogen vehicle and fuel cell technologies.
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Allamand was visiting Seoul this week on the occasion of negotiations on the revision of the free trade agreement with South Korea aimed at broadening the scope of free trade and updating the terms of the pact bilateral trade agreement entered into force in 2004.
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