Cheong Wa Dae announced on Sept. 1 that, in response to rising concerns about protectionism, President Park Geun-hye would emphasize the importance of global free trade and the expansion of investment during her upcoming talks with world leaders.
The president's office said that during her meetings, President Park would find measures to boost trade and investment between Korea and countries and regions where Korean companies are currently active, such as the Russian Far East and ASEAN, including Laos.
In Russia, President Park will visit Vladivostok to attend the Eastern Economic Forum (EEF) on Sept. 2 and 3. Then in China, she will travel to Hangzhou to attend the G20 summit on Sept. 4 and 5, and finally from Sept. 7 to 9 she will visit Vientiane for the ASEAN summit, related meetings and for an official state visit to Laos.
President Park’s Russia trip is expected to offer opportunities for Korea and Russia to bolster cooperation on industries, science and technology, as Russia has been incubating five select, core sectors in order to transform its economy into an innovation-centered economy, from the existing economy based on energy resource exports.
Russia has been actively developing the Russian Far East through the New East Policy. Cheong Wa Dae predicts that the upcoming presidential trip to Vladivostok will contribute to development in that region and also help to expand the foothold of Korean firms that hope to penetrate markets there.
President Park’s entourage in Vladivostok will be accompanied by a business delegation composed of representatives from 70 companies. This delegation will participate in the EEF, the Korea-Russia Business Dialogue and hold one-on-one consultations. The one-on-one consultations will be attended by 38 Korean companies, mostly in the pharmaceutical, consumer goods and construction sectors, and they are attending so that they can meet with local buyers.
After Vladivostok, President Park will visit Hangzhou, in Zhejiang Province, to attend the G20 summit. There, she will discuss policy cooperation measures to achieve the goals of an "innovative, invigorated, interconnected and inclusive world economy," and outline Korea’s standpoint in this regard.
President Park will contribute to the G20’s discussions on future growth measures by presenting her vision for a creative economy, a new model for an inclusive and innovative economy. Cheong Wa Dae said that the president will call for the G20 to take a more active role in regard to rising concerns about protectionism.
Through the ASEAN-Republic of Korea meetings, the ASEAN+3 summit and the East Asia Summit, President Park will discuss cooperation on how to substantially establish a true ASEAN community among ASEAN member countries.
President Park will review progress on expanding trade and investment by improving the Korea-ASEAN FTA, and on accelerating negotiations for a Regional Comprehensive Economic Partnership (RCEP). She will share her opinions with world leaders about progress being made in terms of economic development in developing countries, on small- and medium-sized companies, on the finance industry and on food, all with the goal of further expanding cooperative measures.
During her visit to Laos, President Park aims to actively support economic development in Laos, based on Korea’s rural development policies like the New Community Movement, or Saemaul Undong, while laying the foundation for Korean companies that wish to enter the Lao market.
Laos has just launched its eighth National Socio-Economic Development Plan, which will run from 2016 to 2020. The country is aiming to foster the agriculture, hydro power and tourism industries.
The upcoming presidential visit to Laos is expected to build a foundation for Korean companies that want to enter the infrastructure and healthcare markets in Laos which are expected to further lift the country’s economic development.
By Wi Tack-whan, Yoon Sojung
Korea.net Staff Writers
Photos: Cheong Wa Dae, Yonhap News
whan23@korea.kr
The president's office said that during her meetings, President Park would find measures to boost trade and investment between Korea and countries and regions where Korean companies are currently active, such as the Russian Far East and ASEAN, including Laos.
In Russia, President Park will visit Vladivostok to attend the Eastern Economic Forum (EEF) on Sept. 2 and 3. Then in China, she will travel to Hangzhou to attend the G20 summit on Sept. 4 and 5, and finally from Sept. 7 to 9 she will visit Vientiane for the ASEAN summit, related meetings and for an official state visit to Laos.
Senior Presidential Secretary for Economic Affairs Kang Seog-hoon holds a press conference about President Park’s trip to Russia, China and Laos, on Sept. 1 at the Chunchugwan Press Center.
President Park’s Russia trip is expected to offer opportunities for Korea and Russia to bolster cooperation on industries, science and technology, as Russia has been incubating five select, core sectors in order to transform its economy into an innovation-centered economy, from the existing economy based on energy resource exports.
Russia has been actively developing the Russian Far East through the New East Policy. Cheong Wa Dae predicts that the upcoming presidential trip to Vladivostok will contribute to development in that region and also help to expand the foothold of Korean firms that hope to penetrate markets there.
President Park’s entourage in Vladivostok will be accompanied by a business delegation composed of representatives from 70 companies. This delegation will participate in the EEF, the Korea-Russia Business Dialogue and hold one-on-one consultations. The one-on-one consultations will be attended by 38 Korean companies, mostly in the pharmaceutical, consumer goods and construction sectors, and they are attending so that they can meet with local buyers.
After Vladivostok, President Park will visit Hangzhou, in Zhejiang Province, to attend the G20 summit. There, she will discuss policy cooperation measures to achieve the goals of an "innovative, invigorated, interconnected and inclusive world economy," and outline Korea’s standpoint in this regard.
President Park will contribute to the G20’s discussions on future growth measures by presenting her vision for a creative economy, a new model for an inclusive and innovative economy. Cheong Wa Dae said that the president will call for the G20 to take a more active role in regard to rising concerns about protectionism.
President Park attends the G20 summit in Antalya, Turkey, on Nov. 15, 2015. She is scheduled to participate in the upcoming G20 summit in Hangzhou, Zhejiang Province, on Sept. 4 and 5.
Through the ASEAN-Republic of Korea meetings, the ASEAN+3 summit and the East Asia Summit, President Park will discuss cooperation on how to substantially establish a true ASEAN community among ASEAN member countries.
President Park will review progress on expanding trade and investment by improving the Korea-ASEAN FTA, and on accelerating negotiations for a Regional Comprehensive Economic Partnership (RCEP). She will share her opinions with world leaders about progress being made in terms of economic development in developing countries, on small- and medium-sized companies, on the finance industry and on food, all with the goal of further expanding cooperative measures.
President Park attends the Korea-ASEAN summit in Kuala Lumpur last year. She is scheduled to visit Vientiane for the ASEAN summit and other ASEAN-related meetings, and for an official state visit to Laos, from Sept. 7 to 9.
During her visit to Laos, President Park aims to actively support economic development in Laos, based on Korea’s rural development policies like the New Community Movement, or Saemaul Undong, while laying the foundation for Korean companies that wish to enter the Lao market.
Laos has just launched its eighth National Socio-Economic Development Plan, which will run from 2016 to 2020. The country is aiming to foster the agriculture, hydro power and tourism industries.
The upcoming presidential visit to Laos is expected to build a foundation for Korean companies that want to enter the infrastructure and healthcare markets in Laos which are expected to further lift the country’s economic development.
By Wi Tack-whan, Yoon Sojung
Korea.net Staff Writers
Photos: Cheong Wa Dae, Yonhap News
whan23@korea.kr