Lee calls for resumption of FTA negotiations with Mexico to elevate economic cooperation
MEXICO CITY — Korean President Lee Jae Myung on Friday called for a swift resumption of negotiations for a free trade agreement (FTA) between South Korea and Mexico, saying it will further elevate bilateral economic cooperation that he said is already contributing significantly to the Mexican economy and job creation. The president made the call during a Korea-Mexico business forum in Mexico…
Korean President Lee Jae Myung urged for the resumption of free trade agreement (FTA) negotiations with Mexico during a Korea-Mexico business forum in Mexico City on Friday. He emphasized that the existing bilateral economic cooperation, which is already benefiting Mexico, could be further enhanced through a comprehensive trade agreement.
Mexico is South Korea's largest trading partner in Central and South America, with bilateral trade reaching $20.6 billion last year, according to the president. Despite this, the two economies have not yet established a comprehensive trade agreement, the president noted. In light of the increasing uncertainties in the global trade environment, Lee stressed the necessity of strengthening the institutional framework to enable businesses to pursue opportunities with greater certainty.
Given the mutually complementary structures of the South Korean and Mexican economies, a trade agreement would be highly advantageous.
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