Discussion on Expanding Cooperation Measures with Major Countries
[Asia Economy Sejong=Reporter Joo Sang-don] The Ministry of Economy and Finance announced that it held the 2nd "Korea-ASEAN Summit Economic Diplomacy Performance Promotion Review Meeting" on the 17th at the Government Complex Sejong, chaired by Kim Sung-wook, Director General for International Economic Affairs.
This meeting is the second held following the 1st TF meeting hosted by the Ministry of Trade, Industry and Energy in December last year. Previously, in November last year, the government formed a TF at the 1st Export Strategy Meeting presided over by the President to ensure the smooth implementation of the Korea-ASEAN summit economic diplomacy achievements, with the Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy taking turns to host and review the situation.
The 2nd TF meeting was attended by government ministries and agencies that signed a Memorandum of Understanding (MOU) at the "Korea-Indonesia Business Roundtable" held in November last year, to review the status of agreement implementation and discuss ways to expand cooperation with major ASEAN countries.
According to the Ministry of Economy and Finance, since signing the cooperation MOU with Indonesia, progress has been made including ▲ agreement to hold the Korea-Indonesia High-Level Investment Dialogue (scheduled for March this year) (Ministry of Economy and Finance) ▲ formation of a joint working group to implement the Green Transition Initiative (GTI) joint statement (February, Ministry of Environment) ▲ commencement of two Official Development Assistance (ODA) projects in the small and medium venture business sector (Ministry of SMEs and Startups) ▲ commencement of feasibility study for Indonesian port development project (December 2022, Ministry of Oceans and Fisheries).
At the meeting, government ministries and agencies also reviewed the implementation plan of the economic cooperation MOU signed during the Korea-Vietnam Summit held last December. The government plans to concretize implementation measures through consultations with the Vietnamese government and develop them into substantial cooperation.
Kim Sung-wook, Director General for International Economic Affairs at the Ministry of Economy and Finance, said, "ASEAN is a key economic cooperation partner for our country, and due to recent global supply chain restructuring, the need for cooperation with ASEAN countries, which possess key core resources and serve as overseas production bases, has increased. Active cooperation and support from related ministries and agencies are necessary to advance cooperation outcomes through implementation reviews by the TF and high-level economic cooperation channels with counterpart countries."
The government plans to convey the consultation needs raised with the Indonesian government at this meeting through the "Korea-Indonesia High-Level Investment Dialogue" scheduled for next month.
Additionally, the government intends to discuss ways to strengthen public-private cooperation by gathering opinions from companies that signed MOUs at the Korea-Indonesia Business Roundtable and major companies that have entered or invested in Indonesia.
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