바로가기 메뉴
본문 바로가기
메인메뉴 바로가기
PRESS RELEASES

Korea and UK Agree to Strengthen Economic Cooperation

  • DivisionInternational Economic Affairs Bureau - Trade Policy Coordination Division
  • DateOctober 10, 2018
  • Tel044-215-7652

 

Korea and UK Agree to Strengthen

Economic Cooperation

 

 

Deputy Prime Minister Kim Dong Yeon met with UK Trade Minister Liam Fox on October 5, and held talks on maintaining strong bilateral economic cooperation.

 

The ministers shared the same view on the need to work closely to establish the Korea-UK free trade agreement in order to maintain close trade relationship even after the UK leaves the EU. The two ministers also discussed each country’s interest in joining the CPTPP,[1] and agreed to cooperate closely in the future.

 

Both sides shared concerns about the spread of protectionism, such as the ongoing trade dispute between the US and China. In this regard, DPM Kim called for strong bilateral cooperation at the G20 to work to prevent protectionism and improve stability in the global financial system.

 

DPM Kim also asked for support from the UK government regarding the recent improvement in the inter-Korean relations and North’s denuclearization efforts, and Minister Fox responded by promising continued support from the UK.

 

The government will closely monitor developments from Brexit and maintain strong cooperation with the UK government to be fully prepared for the UK’s exit from the EU.

 

[1] Comprehensive and Progressive Agreement for Trans-Pacific Partnership


 

Please refer to the attached PDF