Mexico City:South Korean President Lee Jae Myung has called for the swift resumption of trade agreement negotiations between South Korea and Mexico, aiming to enhance economic cooperation. He emphasized the significant contribution of their existing economic relationship to Mexico's economy and job creation. According to Yonhap News Agency, President Lee made his remarks during a South Korea-Mexico business forum in Mexico City, where he is currently on a state visit. He highlighted that Mexico is South Korea's largest trading partner in Central and South America, while South Korea is Mexico's fifth-largest trading partner, with bilateral trade reaching US$20.6 billion last year. Despite these achievements, President Lee pointed out the absence of a comprehensive trade agreement between the two countries. He stressed the importance of strengthening the institutional framework to provide businesses with greater certainty amid global trade uncertainties. President Lee noted that the complementary structures of the two economies could form a solid foundation for elevated economic cooperation through a trade agreement. He addressed a meeting attended by top business leaders from both nations, emphasizing the need to enhance cooperation in trade and supply chains for advanced industries. He described Mexico as a key player in North American supply chains and a global manufacturing hub. The call for renewed trade negotiations follows an agreement between President Lee and Mexican President Claudia Sheinbaum on a comprehensive action plan to boost cooperation in advanced industries such as artificial intelligence, defense, and aerospace. South Korea and Mexico began FTA talks in 2006, but negotiations have stalled. Both leaders have agreed on the necessity of restarting these talks. President Lee also advocated for expanded cooperation in future industries and the energy sector, alongside increased cultural exchanges. He highlighted the long-standing diplomatic relations between the two countries, calling for the o pening of a new era of mutual prosperity.
South Korean President Calls for Resumption of Trade Talks with Mexico
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