The Blue House said on the 14th that President Lee Jae-myung told Mexico President Claudia Sheinbaum Pardo that a "swift resumption of negotiations" is needed to conclude a bilateral free trade agreement (FTA).
According to Blue House Spokesperson Kang Yu-jung, President Lee said in a call with President Sheinbaum that "Mexico is Korea's largest trade and investment partner in Latin America, and there is a need to swiftly resume FTA negotiations between the two countries," adding, "As uncertainty in the global economy grows following the Middle East war, I hope the two countries, which hold similar positions, will further strengthen cooperation in various fields, including energy."
In response, President Sheinbaum said, "I am very interested in promoting practical cooperation with Korea, including in the economy." Korea and Mexico signed an "investment protection agreement" in 2000 and, starting in 2006, launched a Strategic Economic Complementation Agreement (SECA), a step prior to an FTA, and have pursued free trade talks. However, differences over areas such as protecting domestic industries led to repeated suspensions and resumptions of talks, and there has been no significant progress for 20 years since.
The two leaders noted that friendly exchanges at the senior level have continued, including an exchange of letters in January, after holding their first bilateral meeting in nine years on the sidelines of the Group of Seven (G7) summit in Canada in June last year. In particular, they mentioned that tens of thousands gathered in Zócalo Square to see BTS, who visited the presidential palace ahead of their Mexico City concert on the 6th, and said, "Let's work to strengthen cultural exchange and cooperation between the two countries."
President Lee congratulated Mexico on hosting the world's first "third World Cup" next month and wished for its success, while accepting President Sheinbaum's "invitation to visit Mexico." Spokesperson Kang said, "The two leaders agreed to proceed well with working-level preparations and to discuss in greater depth ways to advance bilateral relations."