ID :
48603
Tue, 03/03/2009 - 08:09
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https://www.oananews.org//node/48603
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(EDITORIAL from the Korea Herald on March 3) - Resources diplomacy
President Lee Myung-bak left yesterday for visits to New Zealand, Australia and Indonesia, on what is dubbed a "resources diplomacy tour." Cheong Wa Dae explains the significance of the week-long tour as a diplomatic thrust into areas outside the so-called "four powers" - the United States, Japan, China and Russia - which have
been closely involved in the problems of the Korean Peninsula.
Throughout his first year in office, President Lee made somewhat frequent contact
with the leaders of the four powers - holding as many as 16 summit talks, including
those during multinational meetings - concentrating on enhancing partnerships with
them as the head of a new conservative government in Seoul. He had delegated
economic diplomacy to Prime Minister Han Seung-soo, but now the president himself is
taking the helm. He is looking to launch free trade agreement negotiations with
Australia and New Zealand and cooperation in resources development with Indonesia.
During his campaign, Lee wanted to become an "economic president." But the massive
protests against his administration's decision to resume U.S. beef imports last
spring and the impact of the current financial crisis kept him busy tackling
existing problems, rather than pursuing his broad economic vision. This tour is
going to be the first opportunity for him to exhibit his "expertise" and prove
himself to be different from his predecessors.
But a piece of advice seems to be in order. A hasty approach in resources deals,
whether in development projects or simple trade, could cause the other side to raise
the ante, aware of Korea's needs as a buyer, while the worldwide resources market is
becoming increasingly competitive, especially with China's large-scale purchases.
The president may feel pressured to produce some visible outcome to justify his
absence from the rigors of domestic duty, but we do not want him to be anxious about
reaching too many specific agreements on the tour. He will do well to simply confirm
the principle of maximizing mutual interests.
(END)
been closely involved in the problems of the Korean Peninsula.
Throughout his first year in office, President Lee made somewhat frequent contact
with the leaders of the four powers - holding as many as 16 summit talks, including
those during multinational meetings - concentrating on enhancing partnerships with
them as the head of a new conservative government in Seoul. He had delegated
economic diplomacy to Prime Minister Han Seung-soo, but now the president himself is
taking the helm. He is looking to launch free trade agreement negotiations with
Australia and New Zealand and cooperation in resources development with Indonesia.
During his campaign, Lee wanted to become an "economic president." But the massive
protests against his administration's decision to resume U.S. beef imports last
spring and the impact of the current financial crisis kept him busy tackling
existing problems, rather than pursuing his broad economic vision. This tour is
going to be the first opportunity for him to exhibit his "expertise" and prove
himself to be different from his predecessors.
But a piece of advice seems to be in order. A hasty approach in resources deals,
whether in development projects or simple trade, could cause the other side to raise
the ante, aware of Korea's needs as a buyer, while the worldwide resources market is
becoming increasingly competitive, especially with China's large-scale purchases.
The president may feel pressured to produce some visible outcome to justify his
absence from the rigors of domestic duty, but we do not want him to be anxious about
reaching too many specific agreements on the tour. He will do well to simply confirm
the principle of maximizing mutual interests.
(END)
