1. The first meeting of the Korea-Singapore Free Trade Agreement (FTA) Joint Study Group took place in 
Seoul on March 4-5.  Mr. Lee Sung-joo, director of the Multilateral Trade and Cooperation Division at MOFAT, 
and Mr. K. Kesavapany, director of the Institute of Southeast Asian Studies (ISEAS), led the discussion 
between Korean and Singapore.  The Joint Study Group was formed to propel talks about an FTA after the 
WTO Ministerial Meeting last November in Sydney.

2. During the first meeting of the Joint Study Group, various topics and issues were discussed.  The Joint 
Study Group agreed that the formation of an FTA between Korea and Singapore would stimulate trade and 
investment, as well as be economically beneficial for both countries. Furthermore, the Joint Study Group 
recognized the importance of enhancing regional economic cooperation.

3. The next meeting for the Korea-Singapore FTA Joint Study Group will be held on April 23-25 in Singapore.  
After six months of researching and meeting on various FTA issues, the Joint Study Group plans to submit a 
review to both governments.

                                                                    Spokesperson of MOFAT

* unofficial translation