Photo : YONHAP News
President Lee Jae Myung has announced that South Korea and Mexico have agreed to launch an intergovernmental dialogue channel on oil and other critical resources as part of efforts to strengthen supply chain cooperation.
Speaking at a joint press conference after his summit with Mexican President Claudia Sheinbaum in Mexico City on Thursday, Lee said the two countries would continue working together to ensure stable oil imports and explore ways to expand bilateral trade and investment, stressing the need for a trade agreement to create a stable business environment.
He explained that the two sides successfully concluded seven years of negotiations to revise their bilateral investment treaty and would work to bring the revised agreement into force as soon as possible after completing necessary procedures, including parliamentary ratification.
On advanced industries, Lee said a South Korean public-private delegation would visit Mexico in November to discuss digital cooperation and identify specific projects aimed at strengthening the competitiveness of the aerospace industries of both countries through the South Korea-Mexico Space Day event in Mexico.
The president said they would also explore ways for South Korea to contribute to Mexico’s military modernization and jointly enter third-country markets through local defense production.
Lee added that the two countries had agreed to strengthen cooperation in areas including culture, agriculture, public security and anti-corruption, while establishing an institutional foundation to jointly tackle transnational crimes such as online fraud, human trafficking and drug trafficking.
With regard to the Korean Peninsula, Lee said Sheinbaum expressed clear support for South Korea’s policy of peaceful coexistence and that they would continue to work closely for peace and stability on the peninsula and in the international community.