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South Korea and Russia To Conclude Quota of Walleye Pollack Next Month

South Korea and Russia To Conclude Quota of Walleye Pollack Next Month

Posted November. 29, 2002 22:54,   


Korea and Russia agreed to hold 12th South Korea and Russia Fisheries Joint Committee’s extended meeting at Tokyo on December 13, 2002, and decide upon governmental quotas of major fishes including walleye pollack, codfish, squid and saury for next year.

They also decided to push for settlement of a repayment negotiation in regard to about 1.95 billion-dollar economy cooperation loan contracted to the Russia.

South Korea and Russian delegates headed by Jeon, Yoon-cheol, Vice Prime Minister and Minister of Finance and Economy, South Korea and Illiya Clevanof, Minister of Industry and Science, Russia, held 4th South Korea and Russia Economy, Science and Technology Joint Committee in Mosqva on November 28 and drew above results. The two nations failed to reach agreement when they came together for 12th Fisheries Joint Committee held in Moskva, from November 18 to 23 to mainly discuss about fishing quotas, as Russia didn’t settle its total allowable catch (TAC) distribution methods. The government made requests to Russia to help expand governmental quotas for fisheries of pollacks more than last year’s 25,000 ton and secure civilian quota, none in last year, as many as 165,000 tons equivalent to that of 2001. Regarding the matter, Russia stressed about necessity to preserve marine resources and suggested South Korea and Russia joint corporation method. South Korea also requested Russia to allow CDMA method not only existing GSM method for bidding its third generation mobile communications businesses. South Korea and Russia agreed to continue constructive talks on areas subject to cooperation of the two nations, such as linkage of TKR and TSR, development of Irkutsk gas field, creation of Nakhodka South Korea and Russia industrial complex, cooperation in industry, science, information and technology areas, and expansion of trade and investment.

Ki-Hyun Kim kimkihy@donga.com