Deputy Prime Minister Choi Sang-mok met with finance ministers of major countries including Saudi Arabia, the United Kingdom, and Canada, as well as the President of the World Bank (WB) on the sidelines of G20 Finance Ministers and Central Bank Governors Meeting on July 25 to 26 in Rio de Janeiro, Brazil.
On July 25, DPM Choi met with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan to discuss cooperation in areas of mutual interest, including hydrogen, smart farms, and infrastructure. Minister Al-Jadaan emphasized the active participation of Korean companies with high technological capabilities and DPM Choi promised strong support for Saudi Vision 2030 and the agreements made between the two countries last year.
DPM Choi had talks with Rachel Reeves, the newly appointed Chancellor of the Exchequer of the UK Labour government, which achieved a change in administration after 14 years. DPM Choi delivered a congratulatory letter to Chancellor Reeves. Both ministers committed to further enhancing the investment and trade relations between the two countries, following the Downing Street Accord made last year.
In addition, DPM Choi met with Ajay Banga, President of the WB, to discuss expanding the presence of Koreans in senior positions in the World Bank. They also agreed to actively cooperate to ensure the successful hosting of the 21st International Development Association (IDA) replenishment final meeting, scheduled to be held in Korea on December 5 to 6.
On July 26, DPM Choi met with Chrystia Freeland, Deputy Prime Minister and Minister of Finance of Canada, the chair country of next year’s G7. DPM Choi noted the importance of solidarity between Korea and the G7, and DPM Freeland also agreed on the necessity of close cooperation between chair countries, as Korea is due to assume the chairmanship for the APEC next year. Furthermore, they decided to strengthen collaboration in key areas such as supply chains for critical minerals, AI, energy, and other future advanced industries.
Please refer to the attached files.
