The Bolivian Embassy held a reception on April 10, two weeks ahead of the 50th anniversary of diplomatic ties, to mark the official launch of an organization for trade and investment here.

The G-Ocean group, which deals with international trade and provides consulting for overseas businesses, has organized various cultural and commercial events between the two countries since last year.

The group president Shin Tae-yi said Korean companies’ participation in infrastructure projects in Bolivia will lay the ground for other businesses interested in entering the Latin American market.

A delegation of Bolivian women will visit Korea this year to learn about the Saemaul Undong policy Korea pursued in the 1970s, and a group of Korean businesswomen will visit Bolivia to explore opportunities.

Bolivian Ambassador Guadalupe Palomeque de Taboada noted the $250 million external financing agreement signed between the Korea EximBank and Bolivian Ministry of Development Planning, when Minister Rene Orellana came to the Inter-American Development Bank annual meeting in Busan in late March.

The Bolivian Embassy reopened in August last year after a 15-year hiatus following the closure of the Korean Embassy in Bolivia in 1998.

(joel@heraldcorp.com)