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Moon hopes for free trade deal with Mexico

Politics 14:40 January 26, 2022

SEOUL, Jan. 26 (Yonhap) -- President Moon Jae-in expressed hope Wednesday for a free trade deal with Mexico as he exchanged letters with Mexican President Andres Manuel Lopez Obrador to celebrate the 60th anniversary of establishing diplomatic ties between the two countries.

Moon said in the letter that a free trade pact between the two countries would support a post-pandemic economic recovery. The two sides launched free trade talks in 2006, but the negotiations have been stalled since 2008 amid opposition from businesses in Mexico.

In the letter, Moon also hoped that South Korea could become an associate member of a regional economic bloc called the Pacific Alliance, which consists of Chile, Colombia, Peru and Mexico.

The Pacific Alliance is a key economic bloc for South Korea, with the region accounting for 60 percent of the country's total trade with Central and South America. South Korea joined the alliance as an observer in 2013.

Lopez Obrador noted that the two nations have developed close and friendly relations in various fields, including politics and business, over the past 60 years, according to the statement.

President Moon Jae-in speaks during a Cabinet meeting via video link at the presidential office Cheong Wa Dae in Seoul, in the file photo taken Jan. 4, 2022. (Yonhap)


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