Prime Minister Han Holds Talks with Uruguay President "Hopes for Swift Resumption of Mercosur TA Negotiations"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kim Hyewon] Prime Minister Han Duck-soo visited Uruguay on the 12th and 13th (local time) and held talks with President Luis Lacalle Pou of Uruguay to discuss cooperation measures to strengthen economic and trade relations between Korea and Latin America. This visit by a Korean head of government to Uruguay is the first in 11 years since former Prime Minister Kim Hwang-sik in 2011.

Prime Minister Han said, "Both countries have steadily expanded practical cooperation as representative democratic countries in Latin America and Asia pursuing open economies," and requested President Lacalle Pou's interest and support for the prompt resumption and conclusion of the Korea-Mercosur (Southern Common Market) Trade Agreement (TA) negotiations.

Mercosur, established in 1991 and led by Uruguay, Brazil, Argentina, and Paraguay, has a population of 290 million, accounting for 45% of the entire Latin American population, and a gross domestic product (GDP) of $3.4 trillion, representing 62% of Latin America’s total. Uruguay is the Mercosur chair country in the second half of this year and the coordinator for the Korea-Mercosur trade agreement. The Korea-Mercosur TA negotiations have not progressed since the 7th round of talks in August-September last year.

Prime Minister Han also stated, "The Korean government will contribute to freedom, peace, and prosperity in the international community as a global pivotal country," and added, "Let us make joint efforts to overcome global crises such as climate change and economic security."

President Lacalle Pou expressed hope for the continuous expansion of mutually beneficial trade and investment cooperation, including the entry of Uruguayan agricultural products into the Korean market, and said he would positively consider supporting the 2030 Busan World Expo.

[Image source=Yonhap News]

Following this, Prime Minister Han met with key Uruguayan ministers and exchanged views on ways to expand practical cooperation between the two countries in various fields such as defense and defense industry, hydrogen economy, agriculture, and marine fisheries. Attendees included Francisco Bustillo, Minister of Foreign Affairs; Omar Paganini, Minister of Industry, Energy and Mining; and Javier Garcia, Minister of Defense.

The two countries agreed to enhance defense cooperation to strengthen Uruguay’s maritime security. In particular, Uruguay expressed interest in introducing the Korea Aerospace Industries (KAI) advanced trainer aircraft (TA-50) to combat drug trafficking.

They also agreed to strengthen industrial cooperation in new industries and energy sectors. Uruguay, which adopted a green hydrogen development roadmap this year, expects technological cooperation along with purchases of Korean hydrogen trucks for green hydrogen production and utilization.

On the occasion of Prime Minister Han’s visit, a memorandum of understanding (MOU) on fisheries science cooperation for sustainable fisheries between the two countries was signed. They also agreed to promptly conclude MOUs for concrete cooperation in fields such as defense and ports.

This content was produced with the assistance of AI translation services.