With the Korea-EU FTA due to take effect in July, the strong ties between Korea and the European Union are about to grow even stronger, Minister Choi explained. Pointing to Korea's progress on FTAs with major countries around the world, the Minister expressed great enthusiasm about the lucrative opportunities the Korea-EU FTA will open up for EU companies in Korea. He also outlined the government's ongoing efforts to provide an attractive investment environment. "We are more than ready to become the regional capital of international trade and investment," said the Minister.
At the meeting, both sides discussed the future of their long-term green growth partnership. A stellar combination of strengths in such areas as renewables, energy efficiency, smart grids and electric vehicles will enable the two sides to strengthen their presence in the global market. Conceding that fossil fuels remain important energy sources, the Minister called on the investors to join forces against any attempt to disrupt oil markets and artificially raise oil prices.
"It is imperative that as major oil importers, the EU and Korea join forces to increase transparency in the global oil market," the Minister said.
Source: MKE
