ID :
31202
Thu, 11/20/2008 - 09:14
Auther :
Shortlink :
https://www.oananews.org//node/31202
The shortlink copeid
S. Korea, Brazil agree to broaden economic cooperation
BRASILIA, Nov. 19 (Yonhap) -- South Korean President Lee Myung-bak and Brazilian President Luiz Inacio Lula da Silva agreed to closely cooperate in combating the global economic crisis and widen bilateral economic and commercial exchanges during their summit talks in Brasilia on Wednesday, aides for Lee said.
Lee and Lula both attended the Group of 20 summit in Washington D.C. last week
along with leaders of advanced and key emerging economies to tackle the worst
worldwide economic crisis since the Great Depression of the 1930s.
At the G-20 summit, South Korea and Brazil were selected together with Britain as
a troika of moderator countries to play a leading role in creating a new global
financial order and preparing policy agendas for the next G-20 summit slated for
April in London.
Against that backdrop, Lee and Lula discussed measures to enhance the
representation of emerging economy countries in the design of a new economic
order.
The two leaders also agreed to work together to force advanced economies to
expand provision of foreign currency liquidity to emerging economy countries,
accord to the presidential aides.
Lee arrived in this Brazilian capital city on Tuesday after a two-day trip to Sao
Paulo, where he met a group of Brazilian business leaders to call for closer
bilateral economic and commercial cooperation.
Lee and his Brazilian counterpart agreed at the summit to push for a broad range
of bilateral economic and commercial cooperation projects, including joint
development of flex-fuel vehicles powered by Brazilian bio-ethanol, joint
deep-sea oil exploration, the establishment of a Brazilian agricultural research
center in Korea and a combination of Brazil's ethanol business and Korean
technologies in low-emission green growth.
The two leaders also agreed to support South Korean companies seeking to
participate in Brazil's plans to build eight nuclear power plants by 2030 and a
520-kilometer-long high-speed railroad linking Rio de Janeiro, Sao Paulo and
Campinas.
In addition, the two agreed to cooperate to accelerate the launch of free trade
agreement negotiations between South Korea and Mercosur, the South American trade
bloc comprising Argentina, Paraguay, Uruguay and Brazil.
At the end of their summit, Lee invited Lula to visit South Korea next year, when
the two countries will celebrate the 50th anniversary of the establishment of
bilateral diplomatic relations.
Bilateral trade more than doubled over the past five years and is expected to top
US$8 billion this year, government data showed.
Following his Brazilian trip, President Lee plans to visit the Peruvian capital
of Lima for a state visit and to attend the annual APEC summit from Thursday to
Sunday.
Lee and Lula both attended the Group of 20 summit in Washington D.C. last week
along with leaders of advanced and key emerging economies to tackle the worst
worldwide economic crisis since the Great Depression of the 1930s.
At the G-20 summit, South Korea and Brazil were selected together with Britain as
a troika of moderator countries to play a leading role in creating a new global
financial order and preparing policy agendas for the next G-20 summit slated for
April in London.
Against that backdrop, Lee and Lula discussed measures to enhance the
representation of emerging economy countries in the design of a new economic
order.
The two leaders also agreed to work together to force advanced economies to
expand provision of foreign currency liquidity to emerging economy countries,
accord to the presidential aides.
Lee arrived in this Brazilian capital city on Tuesday after a two-day trip to Sao
Paulo, where he met a group of Brazilian business leaders to call for closer
bilateral economic and commercial cooperation.
Lee and his Brazilian counterpart agreed at the summit to push for a broad range
of bilateral economic and commercial cooperation projects, including joint
development of flex-fuel vehicles powered by Brazilian bio-ethanol, joint
deep-sea oil exploration, the establishment of a Brazilian agricultural research
center in Korea and a combination of Brazil's ethanol business and Korean
technologies in low-emission green growth.
The two leaders also agreed to support South Korean companies seeking to
participate in Brazil's plans to build eight nuclear power plants by 2030 and a
520-kilometer-long high-speed railroad linking Rio de Janeiro, Sao Paulo and
Campinas.
In addition, the two agreed to cooperate to accelerate the launch of free trade
agreement negotiations between South Korea and Mercosur, the South American trade
bloc comprising Argentina, Paraguay, Uruguay and Brazil.
At the end of their summit, Lee invited Lula to visit South Korea next year, when
the two countries will celebrate the 50th anniversary of the establishment of
bilateral diplomatic relations.
Bilateral trade more than doubled over the past five years and is expected to top
US$8 billion this year, government data showed.
Following his Brazilian trip, President Lee plans to visit the Peruvian capital
of Lima for a state visit and to attend the annual APEC summit from Thursday to
Sunday.
