Summit Diplomacy to Boost Economy
Summit Diplomacy to Boost Economy
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  • 승인 2005.01.01 12:01
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Roh Focuses on Diplomacy with BRICs to Promote Trade In 2005, President Roh Moo-hyun, who wrapped up his summit diplomacy last year with eep impressions and onfidence, is expected to actively push for good results in the nation trade with the 12 countries he visited last year. Based on Roh successful sales diplomacy last year, the government plans to explore new foreign markets and expand trade with foreign countries, enhancing the nation status in the global market, a senior official at Cheong Wa Dae said. President Roh Moo-hyun overseas summit diplomacy in 12 countries on three continents, including Russia, Kazakhstan, and Japan, ended successfully on Dec. 18, 2004. President Roh has gained remarkable benefits to consolidate a foundation for a peaceful settlement of the North Korean nuclear standoff through in-depth discussions with leaders of major countries such as the United States and China who attended the Asia-Europe Meeting (ASEM) and Asia-Pacific Economic Cooperation (APEC) conference. The most outstanding result of his summit diplomacy seems to have been made in the economic and commerce fields. In particular, the President has paved the way for the nation to secure a bridgehead with RICs (Brazil, Russia, India, and China). Following his visit to China in 2003, President Roh sought close cooperation in various fields with these BRIC nations while visiting Russia, India and Brazil in the latter half of last year. Experts said that President Roh has built a bridgehead for the nation to promote bilateral relations with China and Brazil through his summit talks with Russian President Putin of Russia and Brazilian President Luiz Inacio Lula da Silva. They said that the fact that Korea has commenced discussions about Free Trade Agreements (FTA) with these BRIC nations is also very significant. The second benefit in the economic and trade field is the diversification of the nation resource energy diplomacy. The BRIC nations have huge resources in the energy sector and it is an unlimited market for our products. Kazakhstan, Vietnam and Argentina also are countries enriched with natural resources. Thanks to such a background, related Korean enterprises have gained remarkable achievements by agreeing with their foreign counterparts to jointly develop such important natural resources as crude oil, gas, and iron ore. One other noteworthy point is that the government-run and private enterprises have succeeded in jointly advancing into the global market in the fields of plant construction and IT infrastructure through the President summit diplomacy. Encouraged by President Roh summit diplomacy, the scope of Korean enterprises advancement into foreign markets widened further to such giant infrastructure projects as the joint development of crude oil, construction of Kazakhstan shipbuilding yard and gas disposal facilities, Hanoi new city, and Brazil hydropower plant and a thermoelectric power plant. The nation agreement on close cooperation with Russia, Kazakhstan, and Vietnam in the e-government business sector, and the opening of IT cooperation centers in Brazil and Chile, and the cooperation in the state-of-the-art technological fields with Britain and France also are worth noting. The last benefit in the economic and trade field is the nation drive to conclude FTAs with its major trading partners. During his summit diplomacy last year, President Roh engaged in in-depth negotiations with Singapore regarding an FTA, while reaching an agreement to start joint studies on an FTA from this year with ASEAN nations. Besides, President Roh summit diplomacy has established a firm foothold for the nation FTA plans with major economies such as India, Mercosur (Free Trade Area of Argentina, Brazil, Paraguay, and Uruguay), and China. Experts said that Korea should make the best use of its substantial economic cooperativites with major countries to inject fresh vigor into its slumping domestic economy. By utilizing President Roh successful summit diplomacy, the government needs to upgrade the nation brand image as an investment destination, a partner for economic cooperation, a partner for large-scale projects, and a country with which in-win energy cooperation is possible.

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