Leaders discuss ways to enhance bilateral cooperation in trade, business, security


President Lee Myung-bak continued his summit diplomacy on Wednesday, seeking to expand bilateral, regional and global cooperation with world leaders who were here to attend the Nuclear Security Summit.

While rallying their support to stop North Korea from going ahead with its rocket launch plan, Lee sought to deepen ties with the leaders of Vietnam, Gabon, Spain, Ukraine and Indonesia in various areas including trade, business and development.

On the sidelines of the top-level forum on anti-nuclear terrorism, Lee was scheduled to have summit talks with some 25 world leaders. The forum brought together heads of more than 50 nations and four international organizations including the U.N. and the EU.

Indonesia to start negotiations over bilateral trade partnership

South Korea and Indonesia declared their decision to start official negotiations over the “Comprehensive Economic Partnership Agreement,” a deal similar to a bilateral free trade pact. The first round of their negotiations will be held at an early date within this year, a joint press statement said.

During their summit talks, Lee and Indonesian President Susilo Bambang Yudhoyono reached the agreement to help achieve their trade volume target of $50 billion in 2015 and $100 billion in 2020. The two-way trade volume topped $30 billion last year.

In order to strengthen diplomatic relations, the leaders also agreed to hold a meeting of their foreign ministers at least once a year.

They also agreed to strengthen their cooperation in areas of energy, agriculture, environment and infrastructure.

Under their new agreement on the energy sector, signed Wednesday, the two will expand energy and resources projects such as construction and management of power plants, and development and transport of natural gas in Indonesia, the statement said.

They also agreed to strengthen cooperation in culture and tourism. To mark the 40th anniversary of their diplomatic relations next year, they agreed to designate 2013 as the year of Korea-Indonesia friendship.

Nuclear energy with Vietnam

During the talks between Lee and Prime Minister Nguyen Tan Dung, the leaders welcomed their new agreement to enhance bilateral cooperation in the nuclear power development.

After their meeting, the two countries signed the agreement on cooperation for the “development of nuclear reactors for peaceful purposes.” Under it, they will conduct a feasibility study on the nuclear power plant construction as early as in April.

This, observers say, will give a boost to Seoul’s efforts to participate in Vietnam’s nuclear plant construction project. Vietnam plans to build 10 nuclear reactors for electricity. Russia and Japan won contracts to build two reactors each.

The two leaders also agreed to open official negotiations over their bilateral free trade pact as soon as preliminary domestic procedures are completed in both nations.

Noting that the bilateral trade volume reached $18.5 billon last year, they agreed to work closely to meet their target volume of $20 billion in the near future.

They also agreed to expand their cooperation in energy, resources, the defense industry and infrastructure sectors.

New renewable energy with Spain

Lee and Spanish Prime Minister Mariano Rajoy Brey agreed to strengthen cooperation in new renewable energy. They noted there has been continued cooperation between Spanish firm Acciona and Yeongyang County in North Gyeongsang Province in the construction of the county’s facilities to generate wind power.

Both countries are key members of the International Renewable Energy Agency.

While appreciating that their bilateral ties have deepened in a variety of areas including politics, economy and culture since they were established in 1950, the leaders agreed to work closely to enhance the friendly ties.

It was the first summit between them. Rajoy visited here for the first time since he took office last December.

Development with Gabon

Lee and Gabonese President Ali Bongo Ondimba discussed cooperation in the development of energy, resources, infrastructure and the sharing of Seoul’s development experience.

Lee asked Ondimba to support Korean firms’ efforts to advance into the Gabonese markets for oil refining and IT.

The Gabonese president expressed appreciation for Seoul’s help in mapping out his government’s economic development scheme, and called for continued support for areas including human resources development.

The leaders also expressed hopes that they can further enhance mutual understanding through cultural events on the occasion of the 50th anniversary of bilateral ties this year.

Aerospace, agriculture with Ukraine

Lee and Ukraine’s President Viktor Yanukovych agreed to enhance their practical cooperation in aerospace, agriculture and infrastructure, while noting that their ties have deepened in various ways since they established diplomatic relations 20 years ago.

Lee, in particular, expressed appreciation to Yanukovych that his country allowed hundreds of stateless ethnic Koreans to settle in Ukraine.

Since a special measure was put in place in January 2009, Ukraine has allowed some 900 ethnic Koreans without nationality from Central Asia and elsewhere to stay in the country.

By Song Sang-ho
(sshluck@heraldcorp.com)