Lee Calls for Resumption of Trade Pact Negotiations with Mexico

During a recent business forum in Mexico City, South Korean President Lee Jae Myung emphasized the need for resuming negotiations for a trade agreement with Mexico. He highlighted that Mexico is South Korea's largest trading partner in Central and South America, with bilateral trade reaching $20.6 billion last year.

President Lee pointed out that despite the strong trade relationship, a comprehensive trade agreement has yet to be established. He stressed the importance of strengthening the institutional framework to provide businesses with more certainty amid global trade uncertainties.

The president referred to a Comprehensive Economic Partnership Agreement (CEPA) as a means to enhance cooperation beyond mere market liberalization, including investments and other economic collaborations. He noted that such an agreement would serve as a solid foundation for elevating bilateral economic cooperation.

Additionally, Lee and Mexican President Claudia Sheinbaum agreed on a comprehensive action plan to boost cooperation in advanced industries, including AI, defense, and aerospace. Lee underscored Mexico's role as a key player in North American supply chains and a global manufacturing hub.

Later in the day, Lee visited a showcase of South Korean products and participated in cultural events, further promoting the ties between the two nations.