South Korean Vice Foreign Minister Choi Jong-kun and his counterpart from Mexico, Carmen Moreno, met on Monday
South Korea and Mexico agreed today to boost their ties and exchanges and explore the creation of a bilateral trade agreement taking advantage of the celebration of the 60th anniversary of the establishment of their diplomatic relations.
South Korean Vice Foreign Minister Choi Jong-kun and his Mexican counterpart Carmen Moreno met Monday in Seoul to discuss ways to promote trade, investment, and other exchanges with the aim of “further strengthening the strategic partnership between the two countries,” the South Korean Foreign Ministry said in a statement.
Choi and Moreno called for taking advantage of the events that will take place this year marked by the diplomatic commemoration to “increase exchanges and cooperation” in various fields.
In the first bilateral consultative meeting at this level in seven years, both diplomats agreed to deepen their association with the goal of promoting a trade agreement that they have been trying to get ahead of for years and whose negotiations have been stalled since 2008.
Through a pact of these characteristics, South Korea seeks to expand its presence in the Latin American market, which is key for its exports, the same reason why it has shown interest in becoming part of the Pacific Alliance, the trade bloc created in 2012 by Chile, Colombia, Peru, and Mexico.
Mexico is the ninth world destination for South Korean exports, valued at some 11.3 billion dollars in 2021, while South Korea is the fourth trading partner of the North American country, according to data provided by the Seoul Government.