Seoul: Cheong In-kyo, Minister of Trade of South Korea, held talks with Manuel Tovar, Minister of Trade of Costa Rica, to discuss means to bolster comprehensive economic cooperation between the two countries. The discussions focused on enhancing collaborative efforts in key sectors and extending bilateral ties beyond traditional trade.
According to Bahrain News Agency, Cheong commended the steady growth in bilateral trade and investment based on the Korea-Central America Free Trade Agreement, which took effect in 2019. He proposed further expanding trade in areas where both nations hold strengths, such as automobiles, pharmaceuticals, medical devices, and semiconductors.
Cheong also expressed expectations that bilateral cooperation would extend into the digital sector, noting the inclusion of Costa Rica in the Digital Economy Partnership Agreement (DEPA) in January this year. This inclusion is seen as a step forward in integrating digital economies and fostering innovation-driven growth.
Since Costa Rica is serving as the chair of the Organisation for Economic Cooperation and Development (OECD) for this year, Cheong requested support in encouraging OECD members to actively participate in the upcoming Asia-Pacific Economic Cooperation (APEC) summit, set to take place in South Korea's southeastern city of Gyeongju later this year.