1. Deputy Minister for Economic Affairs Yun Kang-hyeon of the Ministry of Foreign Affairs of the Republic of Korea (ROK), who visited the Federative Republic of Brazil from August 31 to September 3, 2019, held the 11^th ROK-Brazil high-level policy consultation with Secretary for Bilateral Negotiations in Asia, Oceania and Russia of the Brazilian Ministry of Foreign Affairs Reinaldo Salgado on Monday, September 2.

2. The two sides noted that the two countries have advanced friendly and cooperative relations since the establishment of diplomatic relations in 1959; and in particular, a variety of commemorative events are held to mark the 60^th anniversary of the establishment of diplomatic ties between the two countries. The two sides also agreed to further strengthen bilateral relations by revitalizing high-level exchanges and inter-governmental consultations from now on.

3. During the consultation, the two sides mentioned that Brazil is the ROK’s largest investment partner as well as the second top trading partner among other countries in Latin America and that the ROK is Brazil’s fifth largest exporter. In addition, they discussed ways to enhance bilateral trade and substantive cooperation.

○ Deputy Minister Yun asked for Brazil’s attention to and support for the conclusion of a negotiation on the ROK-MERCOSUR trade agreement (TA) in the first half of 2020, hoping that the negotiation would help further increase trade and investment between the two countries.

○ Secretary Salgado expressed hope that the new Brazilian government inaugurated in January this year would expand substantive cooperation with the ROK in the areas of education, science and technology.

4. The two sides also exchanged views on ways to cooperate in consular issues and on the international stage as well as on the situations on the Korean Peninsula and in Latin America.

5. The policy consultation, held to mark the 60^th anniversary of the establishment of diplomatic relations between the ROK and Brazil, is seen to have served as an opportunity not only to improve bilateral relations, but also to step up substantive cooperation in various fields such as high-level exchanges, trade and investment, science and technology as well as education.