S. Korean president to announce start of FTA talks with Australia

By Byun Duk-kun
SYDNEY, March 4 (Yonhap) -- South Korean President Lee Myung-bak arrived
Wednesday in Australia where he and Australian Prime Minister Kevin Rudd are set
to hold official talks and announce the start of negotiations for a free trade
agreement (FTA).
The Lee-Rudd summit will be held Thursday in the Australian capital of Canberra.
Lee's visit here followed his two-day trip to New Zealand where he and New
Zealand Prime Minister John Key also announced the launch of negotiations for a
Korea-New Zealand FTA.
"President Lee and Prime Minister Rudd will announce the start of FTA talks and
also discuss ways to strengthen the countries' cooperation on other issues, such
as climate change and energy cooperation," an official from the South Korean
presidential office said.
A Korea-Australia FTA, if it becomes effective, will deepen economic ties between
the two countries whose trade of goods and services reaches nearly US$20 billion
a year.
Australia is South Korea's 11th largest trading partner.
Lee's stop here in the most populous Australian city comes as part of his efforts
to promote green technology in his country as well as joint research and
development of the high-end technology between the two countries.
The South Korean president was later scheduled to visit the School of
Photovoltaic and Renewable Energy Engineering at the University of New South
Wales, following his meeting with New South Wales Governor Marie Bashir.
He was also set to hold a special discussion session with South Korean residents
living here and attend a dinner hosted by New South Wales Premier Nathan Rees.
Lee will depart early Thursday for Canberra where he will meet Australia's
Governor General Quentin Bryce and hold the summit with Prime Minister Rudd.
bdk@yna.co.kr
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