President Park Geun-hye held summit talks with Canadian Prime Minister Stephen Harper on March 11. The two leaders announced the conclusion of the Korea-Canada free trade agreement (FTA). They urged North Korea to give up its nuclear program in order to pursue sustainable peace and stability on the Korean Peninsula.

"As we conclude negotiations on the free trade agreement between Korea and Canada, we are pleased to express our strong commitment to raising our relationship to a new level," said President Park and her Canadian counterpart in the joint statement adopted by the two leaders. Both leaders said they will, “strengthen bilateral cooperation in political, economic, cultural and people-to-people exchanges, as well as other realms, and expand strategic collaboration in regional and international fora.”

In the extended Korea-Canada summit, President Park said that the Korea-Canada FTA will act as a new standard for bilateral cooperation. She added that she has high hopes that the economic relationship will deepen thanks to the free trade pact.





Prime Minister Stephen Harper said the bilateral relationship is built on the basis of people-to-people exchanges between the two countries, mentioning the 26,000 Canadian soldiers who participated in the Korean War (1950-1953) and the 200,000 Koreans residing in the North American country. “This statement represents our firm will to strengthen our cooperation in political, economic and cultural realms, in people-to-people exchanges, and to expand our strategic collaboration in regional and international fora,” the two leaders said.

In regard to the conclusion of the Korea-Canada FTA, the two leaders said in the statement that, “Today’s announcement of the successful conclusion of negotiations of the free trade agreement between Canada and Korea represents a landmark achievement on the heels of the 50th anniversary of our diplomatic relationship.” Both leaders said that they are committed to finalizing the legal review and required domestic procedures expeditiously with the mutual intention that the agreement will come into force as soon as possible.

“The Free Trade Agreement between Canada and Korea is a 21st century trade agreement that will strengthen our trade and investment ties across the Pacific, translating into increased export opportunities and innovative partnerships, as well as create jobs and economic opportunities for Koreans and Canadians alike,” said the two leaders.

They said that after implementation, the free trade pact will bring significant benefits for the Canadian and Korean consumers as well as economies and business communities, including small- and medium-sized enterprises.

Canadian PM supports Korean Peninsula trust-building process

Both leaders said that the two countries are committed to, “working together on areas of common interest and enabling our two countries to protect and promote our shared goals in regional and global issues.”

“We underline our desire for sustainable peace and stability on the Korean Peninsula as envisioned in the Trust-Building Process initiated by President Park Geun-hye,” said the statement.

They further urged Pyongyang to abandon all nuclear weapons and existing nuclear and ballistic missile programs, including its uranium enrichment program, in a complete, verifiable and irreversible manner.

The two leaders said that they share the vision of a peaceful unification of the Korean Peninsula based on the principles of freedom, democracy and a market economy, which will bring a better future for all Koreans. They also emphasized the significance and role of regional dialogue and cooperation as a means of building trust in Northeast Asia.

In regard to the bilateral relationship between Seoul and Ottawa, they said in the statement, “As strong economic partners, we recognize great opportunities for economic cooperation in various areas, including energy and natural resources, innovation, science and technology, and Arctic research and development.”

By Wi Tack-whan, Yoon Sojung
Korea.net Staff Writers
whan23@korea.kr