On Thursday, the top trade officials of South Korea and Argentina discussed plans to increase trade and investment through free trade platforms, as well as to collaborate on the supply chains of major minerals and energy resources, according to the Ministry of Trade, Industry and Energy.
At their meeting in Seoul, South Korea’s Trade Minister Ahn Duk-geun and Argentina’s foreign and trade minister, Santiago Cafiero, agreed to continue negotiations for a free trade agreement between South Korea and the Mercosur trading bloc, which includes Argentina, Brazil, Paraguay and Uruguay.
The two ministers also talked about signing a bilateral Trade and Investment Promotion Framework (TIPF) to create a new channel for cooperation in the overall industry and trade fields.
Ahn asked for Argentina’s support for South Korean companies taking part in lithium development projects in the South American country, as lithium is a major mineral for the battery sector and Argentina has the world’s third-largest lithium reserves.
Ahn also requested Argentina’s support for South Korea’s bid to host the 2030 World Expo in its southeastern city of Busan.
This photo, provided by South Korea’s industry ministry, shows South Korea’s Trade Minister Ahn Duk-geun (R) shaking hands with Argentina’s foreign and trade minister, Santiago Cafiero, ahead of their talks in Seoul on Aug. 31, 2023. (PHOTO NOT FOR SALE) (Yonhap)