South Korea's Lee calls for resumption of Mexico FTA talks

"Mexico is South Korea's largest trading partner in Central and South America. For Mexico, South Korea is the fifth-largest trading partner with bilateral trade reaching US$20.6 billion last year," Lee noted, emphasizing that despite this strong trade relationship, a comprehensive trade agreement is still lacking.

Lee stressed the importance of strengthening the institutional framework for trade amid global uncertainties, suggesting that an FTA would provide a solid foundation for enhanced bilateral economic cooperation. The forum was attended by top business leaders from both countries.

This event followed an agreement between Lee and Mexican President Claudia Sheinbaum to a comprehensive action plan aimed at boosting cooperation in advanced industries such as artificial intelligence, defense, and aerospace.

South Korea and Mexico initially launched FTA talks in 2006, but negotiations have been stalled since then. Both leaders have previously agreed on the necessity of restarting these discussions.

Lee highlighted Mexico's role as a key part of North American supply chains and a global manufacturing hub for sectors like automobiles and electronics. He stated that combining Mexico's manufacturing capabilities and market access with South Korea's technology and industrial competitiveness would create significant growth opportunities for both nations. The president also advocated for expanded cooperation in future industries, the energy sector, and cultural exchanges, calling for "the opening of a new six decades for mutual prosperity" to mark their six-decade-old diplomatic relations.