1. Vice Foreign Minister Cho Hyun will meet at the Foreign Ministry on August 10 Vice Foreign Minister Navarro of Panama, who is on a visit to the Republic of Korea for a “Vision Sharing Program for Latin American Countries’ National Development.” In the meeting, the two senior diplomats will discuss ROK-Panama issues and other matters of mutual concern, including the bilateral relations, ways to step up substantive cooperation on trade, infrastructure and maritime transport, and situations on the Korean Peninsula and in other regions of the world.

※ For the “Vision Sharing Program for Latin American Countries’ National Development,” major minister- or higher-level policy makers for the development of Latin American countries are invited to the ROK to see for themselves the progress in the ROK’s economic development; share with one another their respective countries’ future visions for national development; and enhance bilateral cooperative ties between the ROK and Latin American countries.

2. In the forthcoming meeting, Vice Minister Cho will take note of the advances in the friendly and cooperative relationship between the ROK and Panama across the board since the establishment of diplomatic relations in 1962; and suggest that the two countries continue holding high-level exchanges and building mutual trust in joint efforts to increase substantive bilateral cooperation.

3. In particular, Vice Minister Cho will bring attention to the growing expectation for a boost in trade and investment on the back of the ROK-Central America FTA signed in February 2018; and propose that the two countries continue working together toward an early ratification of the FTA.

※ The ROK signed in February 2018 an FTA with five Central American countries -- Panama, Costa Rica, El Salvador, Nicaragua and Honduras. The ROK and four of those Central American countries, except for El Salvador, which has completed its ratification process, are undergoing their respective domestic procedures for ratification.

4. Vice Minister Cho will note with appreciation that the ROK and Panama have been seeing their cooperation increase in the sectors of energy and infrastructure; and ask the Panamanian government to pay attention to and support bids of highly competitive Korean companies to take part in various energy and infrastructure construction projects in Panama.

5. Vice Minister Cho will extend appreciation to the Panamanian government for its consistent support for the ROK government’s Korean Peninsula policy; explain the rapidly progressing situation on the Korean Peninsula of late; and ask the Panamanian government to remain cooperative on efforts to establish peace on the Korean Peninsula.

* unofficial translation