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| Sunday, 31 May 2009, 12:00 ICT
Lee Myung-bak calls for ASEAN business partnership
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| Lee Myung-bak: Wants greater ASEAN business ties |
South Korea has used a weekend summit to call for a "practical business community" with ASEAN on the issues of economy, the environment and culture.
Speaking at the Jeju island gathering president Lee Myung-bak said he looked forward to developing the ties between the two sides and potential for future cooperation.
"Now we have to leap anew on the basis of relationship we have built on. We should become mature partners further enhancing economic cooperation, expanding cultural exchanges and leading the era of green growth," Lee said in his keynote speech at the ASEAN-Korea CEO Summit.
The president said Korea and ASEAN should develop a partnership to take advantage of "rich resources, quality workers, the potential for high-growth and geographically proximity".
Korea and ASEAN developed a basic free trade agreement in 2005 and agreed pacts on merchandise in 2006 and service in 2007.
"Now, the two sides are lowering barriers in goods, service and investment and thus moving a step toward a practical business community," he told 700 officials and businessmen from Korea and 10 ASEAN countries.
Korea remains ASEAN's third-largest trading partner and ASEAN is Korea's fifth-largest trade partner.
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