South Korea and the Dominican Republic today signed a memorandum to promote bilateral trade and investment and promote projects in sectors such as digital or green energy, reported the Ministry of Commerce, Industry and Energy of the Asian country.
The South Korean Minister of Commerce, Ahn Duk-geun, and the Dominican Vice President, Raquel Peña, signed today in Seoul the non-binding agreement that calls for promoting economic cooperation and in the corporate field.
"The Dominican Republic, which has trade agreements with North American and European nations, is expected to maintain its strong economic growth. Therefore, it has greater potential to strengthen trade and investment ties with South Korea and could serve as a foundation for South Korean companies to advance into new markets." explained the South Korean ministry in a statement.
both parties "agreed to undertake practical cooperation projects in new fields such as supply chains, digital, green and bio-sanitary, as well as trade, investment and energy"add the text.
To this end, a joint committee will meet each year "to actively support the easing of trade barriers and exchanges and cooperation between companies and institutions".
In turn, based on the document signed today, the South Korean government plans "further strengthen its economic cooperation with the Dominican Republic and make efforts leading to the signing of an Economic Partnership Agreement (EPA)".
Vice President Peña, who is visiting the Asian country these days and who will return to the Dominican Republic on April 8, is the first high-level Dominican representative to travel to South Korea in 17 years.
