Seoul – His Excellencies, Eladio Loizaga for Paraguay, in charge of the Pro Temporary Presidency, Aloysio Nunes Ferreira Filho for Brazil and Rodolfo Nin Novoa for Uruguay, Foreign Ministers of the MERCOSUR Member States, the Minister of Industry, Foreign Trade and Services of the Federative Republic of Brazil, Marcos Jorge de Lima, and The Secretary for International Economic Relations of Argentina, Horacio Reyser, met with His Excellency, Hyun Chong Kim Trade Minister of the Republic of Korea, on May 25th, 2018, in Seoul.
At the conclusion of their meeting, the Ministers agreed as follows:
Joint Statement on the Launch of Negotiation toward a Trade Agreement between the Argentine Republic, the Federative Republic of Brazil, the Republic of Paraguay and the Oriental Republic of Uruguay, the MERCOSUR Member States and the Republic of Korea.
The Ministers agreed to start negotiations for a Trade Agreement between the Republic of Korea and MERCOSUR. This represents a significant step toward deepening the important relationship between the MERCOSUR Member States and the Republic of Korea.
The Ministers underscored the opportunity that a commercially meaningful agreement presents for the mutual benefit of the Republic of Korea and MERCOSUR. Strengthening ties through enhanced trade and investment flows is an expression of our shared interest in prosperity and shared commitment to trade liberalization and open markets.
The Ministers pledged to continue the negotiations in order to provide opportunities for the people of the Republic of Korea and of the MERCOSUR Member States without delay and have ordered the officials to initiate the negotiations in the second half of 2018.