SA, South Korea in trade talks

Monday, January 11, 2010

Pretoria - South Africa and South Korea are in talks which are set to consolidate economic relations between the two countries.

International Relations and Cooperation Deputy Minister Ebrahim Ebrahim is hosting his Korean counterpart Shin Kak-Soo in Pretoria this morning.

The two are expected to discuss the status of bilateral political and economic relations, including the prospect for a Free Trade Agreement between South Africa and Korea.

The department's spokesperson Saul Kgomotso Molobi said the agenda for the Group of Twenty (G20) meetings for 2010 will be high on the agenda as well as developments in the Korean Peninsula and SADC regions.

"It is expected that the high level visit will be discussed, as President Jacob Zuma will be attending the G20 Summit in Seoul in November 2010," Molobi said, adding that South Africa's participation in this multilateral organisation was important.

"The meeting comes within the context of South Africa's commitment to consolidate bilateral political and economic relations with the countries in Asia in order to strengthen the conditions imperative for the achievement of the developmental agenda of the South," he said.

Ebrahim's Korean counterpart will also meet with Deputy Minister of Economic Development Gwendoline Mahlangu-Nkabinde to engage about the 2010 FIFA World Cup.