Korea, Ecuador discuss economic ties

President Lee Myung-bak and Ecuadorian President Rafael discussed ways to strengthen cooperation in IT, energy development and infrastructure construction, during summit talks in Seoul on Wednesday.

President Lee requested the Ecuadorian government’s support for Korean companies’ participation in building energy infrastructure, oil refineries and natural resource development in the South American country, Lee’s office said in a statement.

President Correa, who is on a three-day visit to Korea through Friday, showed great interest in Korea’s experience of development and said he expected Korean businesses’ entry into sectors in his country such as energy infrastructure.

“President Correa asked Seoul to expand its cooperation for Ecuador’s sustainable socioeconomic progress,” Cheong Wa Dae said.

“President Lee said the Korean government is planning to increase loans and grants for bilateral economic cooperation in the fields of solar photovoltaic and wind power generation.”

Lee also said Seoul would review including Ecuador in its program to share the development experience in 2011.

The two leaders also exchanged views on the latest developments on the Korean Peninsula and in Central and South America.

The Ecuadorian leader expressed deep condolences to the families of the South Korean navy crew killed in the naval ship sinking in March and supported Seoul’s position that Pyongyang must not aggravate tensions on the Peninsula with repeated provocations, Lee’s office said.

After the summit talks, an agreement was inked on cooperation for exporting Korea’s electronic customs clearance system by the representatives of the national customs offices of the two countries.

Another preliminary deal on collaboration was signed between Seoul’s Ministry of Knowledge Economy and Ecuador’s Ministry of Electricity and Renewable Energy.

The two countries also signed an agreement on cooperation for Ecuador’s one-stop customs clearance system. State-invested petroleum companies of the two countries exchanged a letter of intent on mutual cooperation.

President Lee expressed appreciation at the Ecuadorian government’s decision to introduce the Korea Customs Service’s electronic customs clearance system UNI-PASS for the first time among South American nations. Based on this, the two leaders agreed to bolster intergovernmental collaboration on IT.

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