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S. Korean finance minister meets with Canadian ambassador

All News 18:13 July 18, 2016

SEJONG, July 18 (Yonhap) -- South Korea's finance minister and the Canadian ambassador to Seoul on Monday discussed ways to enhance bilateral and international cooperation to cope with the current economic and financial uncertainties sparked by the British exit from the European Union, or Brexit.

"Global policy cooperation is important as the world financial market and the world economy are facing wild fluctuation and heightened uncertainty due to a protracted economic slowdown and Brexit," Finance Minister Yoo Il-ho said in a meeting with Canadian Ambassador to South Korea Eric Walsh in Seoul.

He stressed that major economies of the Group of 20, where South Korea and Canada are included, have to make a consolidated effort to minimize Brexit fallout on the global economy, which has already shown signs of a downturn.

Walsh said the global community has to tide over the current difficulties through a strengthened global cooperative framework.

The two also agreed that they will join hands to further increase bilateral trade through the Seoul-Ottawa free trade pact that took effect last year.

Trade between South Korea and Canada reached US$8.6 billion last year, down from $10.3 billion in 2014.


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