Lee calls for resumption of FTA negotiations with Mexico to elevate economic cooperation

South Korean President Lee Jae Myung urged for the immediate resumption of free trade agreement (FTA) talks with Mexico during a business forum in Mexico City on Friday. President Lee, who is on a state visit to Mexico, stated that the existing economic cooperation between the two nations is already playing a significant role in job creation and boosting the Mexican economy.

Mexico is South Korea's biggest trading partner in Central and South America, while Korea ranks as Mexico's fifth-largest trading partner, with bilateral trade reaching $20.6 billion last year.

Despite the impressive results, President Lee emphasized that a comprehensive trade agreement between the two economies is still lacking. He stressed the importance of bolstering the institutional framework to enable businesses to pursue opportunities with greater certainty, especially as global trade faces increasing uncertainties. Given the complementary nature of the two economies, President Lee believes that an FTA between South Korea and Mexico can significantly elevate bilateral economic cooperation.