Korea-Singapore Signed FTA Statement

In his official visit to Singapore on October 23, President Roh Moo-hyun had a two and a half hour’s summit and luncheon with Singaporean Prime Minister Goh Chok Tong at the Istana Palace and agreed to launch a ministerial negotiation in January 2004 in view of settling the Free Trade Agreement (FTA) between the two countries within a year.

Following the leaders’ agreement, Minister for Trade Hwang Doo-yun and Singaporean Trade and Industry Minister George Yeo signed a joint-FTA statement accordingly.

Regarding North Korea’s nuclear issue, President Roh said, “I’m positive that the second round of six-way talks will be held at an early date and will bring a successful conclusion.” Expressing the North’s nuclear development and spreading threats of Weapons of Mass Destruction(WMD), Singaporean Prime Minister Goh said, “ I totally stand by the South Korean government’s peace-supporting policy against North Korea.“

President Roh also said, “Now that the cooperation between Northeast Asia and Southeast Asia is becoming realistic, and consideration of FTA agreement between Korea-ASEAN is under way, it is worth reviewing a plan on a long-term basis for ‘ASEAN plus Korea, China and Japan’ conference that eventually seeks for the community of East Asia.”

Goh suggested that some companies from the two nations be selected and to give them the way for electronic transferring in each nation’s stock market. He also suggested joint technology assistance to the developing countries in ASEAN such as Myanmar, Laos, and Cambodia, and President Roh replied that he will consider those plans.

President Roh asked Goh to visit Korea some day at his convenient time, and Goh accepted his invitation. Roh will finish his trip to Singapore on October 24 and return to the nation in the afternoon by private plane.

Jeong-Hun Kim jnghn@donga.com