Outcome of the Korea-Peru Foreign Ministers’ Meeting on the Sidelines of the APEC Summit

Foreign Minister Kim Sung-Hwan met with his Peruvian counterpart Rafael Roncagliolo Orbegoso on November 12 on the sidelines of the APEC Summit in Honolulu, Hawaii, to discuss matters of mutual concern, including ways to promote Korea-Peru relations. Taking note of the tangible increase in bilateral trade since the effectuation of the Korea-Peru FTA on August 1, the two sides agreed to exert efforts toward stronger cooperation between the two countries, for which their leaders affirmed a strong willingness during their summit held on the sidelines of the UN General Assembly session in September. The two sides also agreed to further upgrade the relations between their countries. Korea and Peru are seeking to upgrade their comprehensive and cooperative relationship, forged under the agreement reached between President Lee Myung-bak and his Peruvian counterpart during President Lee’s state visit to Peru in 2008, to a strategic and cooperative one at an appropriate time. Following their meeting, the two Ministers signed the Korea-Peru Aviation Agreement, which is expected to lead to a large increase in people-to-people and logistics exchanges between the two countries.