Holding Korea-Ecuador Joint Committee... Ministry of Foreign Affairs Requests Cooperation for $200 Million Manta Airport Operation Project Contract

[Asia Economy Reporter Lim Cheol-young] Jo Young-jun, Director of the Latin America and Caribbean Division, held the 7th Korea-Ecuador Joint Committee in Quito, Ecuador, with Laura Donoso, Deputy Minister for Asia-Pacific Affairs of the Ecuadorian Ministry of Foreign Affairs, the Ministry of Foreign Affairs announced on the 21st.

The committee discussed ▲evaluation of bilateral relations ▲economic and trade cooperation ▲infrastructure and investment advancement ▲development cooperation ▲educational cooperation ▲cultural cooperation ▲the situation on the Korean Peninsula and in the Latin America region.

Director Jo evaluated Ecuador as a traditional ally of Korea with whom close cooperative relations have been maintained, emphasizing that the official visit of former Prime Minister Lee Nak-yeon to Ecuador in May last year created a turning point for advancing bilateral relations to a higher level. He especially expressed hope for strengthened practical cooperation in the infrastructure sector and requested the Ecuadorian government’s cooperation to ensure the smooth conclusion of the contract for the Manta Airport operation project being promoted by Korea Airports Corporation.

The Manta Airport operation project, worth approximately 200 million USD, involves operating, maintaining, and managing the facilities of Manta Airport in Ecuador for 30 years. Korea Airports Corporation submitted a project proposal during the official visit of the Prime Minister to Ecuador in May 2019 and submitted a revised proposal last November.

The Ecuadorian side introduced major government-led infrastructure projects in various fields such as solar power generation and railway transportation and requested expanded participation of Korean companies. They also evaluated that Korea’s development cooperation has greatly contributed to Ecuador’s development and agreed to further strengthen and diversify cooperation in sharing Korea’s economic development experience, expanding training for international students including educational cooperation, and in the field of renewable energy. Furthermore, they discussed ways to enhance cooperation in consular affairs, including the conclusion of a criminal justice cooperation treaty, and maritime safety, and agreed to expand cooperation in responding to climate change, including the 2nd P4G Summit hosted by Korea this year.

Meanwhile, at the luncheon hosted by Deputy Minister Christian Espinosa following the joint committee, both sides exchanged views on the situation on the Korean Peninsula, Northeast Asia, and Ecuador and Latin America, and agreed to strengthen cooperation between the two countries on the international stage.

An official from the Ministry of Foreign Affairs explained, "This joint committee, held for the first time in two years since the 6th Joint Committee in 2018, served as an opportunity to review the overall bilateral relations that have taken a leap forward since former Prime Minister Lee Nak-yeon’s official visit to Ecuador last May and to seek ways to strengthen practical cooperation between the two countries."