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Top diplomats of S. Korea, Chile agree to deepen trade relations

All Headlines 15:22 April 29, 2010

By Byun Duk-kun

SEOUL, April 29 (Yonhap) -- South Korean Foreign Minister Yu Myung-hwan and his visiting Chilean counterpart Alfredo Moreno agreed to bolster their countries' bilateral trade relations and to expand their free trade agreement (FTA), Seoul's foreign ministry said Thursday.

"The two sides expressed satisfaction that their countries closely worked together based on mutual understanding and trust since they established diplomatic ties in 1962, and that their bilateral relations in various areas, including the economic and trade sectors, have significantly improved and expanded due to the FTA enacted in 2004," the ministry said in a press release after their talks here.

"In addition, the sides noted the FTA between the two countries brought many benefits to both of their peoples and agreed to further deepen and expand the FTA," it added.

The two ministers also urged stepped up efforts for the signing of a social security agreement between the countries to help create more investment opportunities, according to the press release.

Moreno arrived here Wednesday on a two-day trip.


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