President Park Geun-hye met with a delegation from the Japan Business Federation (Keidanren) which arrived in Seoul on December 1 to attend the Korea-Japan Business Council meeting. They discussed ways to boost bilateral trade, how to deal with economic integration worldwide and Korea's policy on foreign investment.
"I am glad that the Korea-Japan Business Council meeting was resumed after having been suspended for a long time since 2007," said President Park. "I hope that business leaders of both nations will cooperate further to deal with changes in the external environment and to provide strong support for the development of our bilateral relationship."
"Next year is the 50th anniversary of the resumption of Korea-Japan diplomatic ties. I sincerely hope that business leaders pay the utmost attention and make great efforts so that the two nations can heal their painful history and take a step forward together for the future," said the president.
"The president's industrial policy has helped Korea overcome difficult economic circumstances, including unfavorable exchange rates, and has helped to increase exports and current account surpluses," said Sadayuki Sakakibara, chairman of the Japan Business Federation. "The conclusion of Korea-China free trade agreement negotiations will be a huge boost for Japanese companies doing business in Korea."
Chairman Sakakibara explained that Korean and Japanese business leaders earlier discussed potential industrial cooperation at the Korea-Japan Business Council meeting. The issues ranged from building infrastructure together in third countries to tourism, finance, trade and investment, the environment, energy, and smart healthcare.
"I hope that our two nations increase trade in end consumer products and that through the Korea-Japan Business Council meeting, companies in both nations find actual opportunities to enter third markets together," said President Park.
Concerning free trade agreements in the Asia-Pacific region, President Park said, "There are many ongoing discussions going on at the same time concerning the integration of economies and it is about time for the Korea-Japan Business Council to talk about the integration of economies in the Asia-Pacific region. Although bilateral FTAs promote free trade, it is desirable for bilateral FTAs to develop into regional FTAs and then on to a bigger scheme led by the World Trade Organization."
"The Korea-Japan economic relationship came to a standstill over the past two or three years and I am very worried," said Sakakibara. "At the Korea-Japan Business Council meeting, we agreed to strengthen our cooperation further to reverse this trend and to develop the current relationship so that it becomes larger and more cooperative."
"Business exchanges can only be possible on the basis of economic diplomacy and we hope that there will be a bilateral summit between the two leaders of Japan and Korea," he added.
The president responded by saying, "There will be a lot to do to promote not only economic cooperation but also peace and security in Northeast Asia."
"It is important to create an environment in which the people of the two nations can happily welcome the 50th anniversary of the resumption of the Korea-Japan diplomatic relationship. At the APEC gala dinner, I already mentioned to Japanese Prime Minister Shinzo Abe that for the future-oriented development of our two countries' relationship, Japan needs to make sincere efforts. I hope that the two nations will be able to produce some results in the related discussions."
"Businessmen played a large role in developing our bilateral relationship. For its further development, we need close cooperation between businesses and the government," said Park. "The Korean government intends to make more efforts and, in particular, I will give my support to it so that businesses can enjoy fruitful results of their economic cooperation."
By Limb Jae-un
Korea.net Staff Writer
Photos: Cheong Wa Dae
jun2@korea.kr
"I am glad that the Korea-Japan Business Council meeting was resumed after having been suspended for a long time since 2007," said President Park. "I hope that business leaders of both nations will cooperate further to deal with changes in the external environment and to provide strong support for the development of our bilateral relationship."
"Next year is the 50th anniversary of the resumption of Korea-Japan diplomatic ties. I sincerely hope that business leaders pay the utmost attention and make great efforts so that the two nations can heal their painful history and take a step forward together for the future," said the president.
President Park Geun-hye (left) shakes hands with Sadayuki Sakakibara, chairman of the Japan Business Federation, at Cheong Wa Dae on December 1. Sakakibara came to Korea to attend the Korea-Japan Business Council meeting.
"The president's industrial policy has helped Korea overcome difficult economic circumstances, including unfavorable exchange rates, and has helped to increase exports and current account surpluses," said Sadayuki Sakakibara, chairman of the Japan Business Federation. "The conclusion of Korea-China free trade agreement negotiations will be a huge boost for Japanese companies doing business in Korea."
Chairman Sakakibara explained that Korean and Japanese business leaders earlier discussed potential industrial cooperation at the Korea-Japan Business Council meeting. The issues ranged from building infrastructure together in third countries to tourism, finance, trade and investment, the environment, energy, and smart healthcare.
"I hope that our two nations increase trade in end consumer products and that through the Korea-Japan Business Council meeting, companies in both nations find actual opportunities to enter third markets together," said President Park.
Concerning free trade agreements in the Asia-Pacific region, President Park said, "There are many ongoing discussions going on at the same time concerning the integration of economies and it is about time for the Korea-Japan Business Council to talk about the integration of economies in the Asia-Pacific region. Although bilateral FTAs promote free trade, it is desirable for bilateral FTAs to develop into regional FTAs and then on to a bigger scheme led by the World Trade Organization."
"The Korea-Japan economic relationship came to a standstill over the past two or three years and I am very worried," said Sakakibara. "At the Korea-Japan Business Council meeting, we agreed to strengthen our cooperation further to reverse this trend and to develop the current relationship so that it becomes larger and more cooperative."
"Business exchanges can only be possible on the basis of economic diplomacy and we hope that there will be a bilateral summit between the two leaders of Japan and Korea," he added.
President Park Geun-hye (fifth from right) discusses economic cooperation with the Japan Business Federation delegation on December 1.
The president responded by saying, "There will be a lot to do to promote not only economic cooperation but also peace and security in Northeast Asia."
"It is important to create an environment in which the people of the two nations can happily welcome the 50th anniversary of the resumption of the Korea-Japan diplomatic relationship. At the APEC gala dinner, I already mentioned to Japanese Prime Minister Shinzo Abe that for the future-oriented development of our two countries' relationship, Japan needs to make sincere efforts. I hope that the two nations will be able to produce some results in the related discussions."
"Businessmen played a large role in developing our bilateral relationship. For its further development, we need close cooperation between businesses and the government," said Park. "The Korean government intends to make more efforts and, in particular, I will give my support to it so that businesses can enjoy fruitful results of their economic cooperation."
By Limb Jae-un
Korea.net Staff Writer
Photos: Cheong Wa Dae
jun2@korea.kr
