1. During her visit to Davos, the Swiss Confederation, for the Davos Forum 2019, Foreign Minister Kang Kyung-wha met bilaterally with Foreign Minister of the Federative Republic of Brazil Ernesto Araujo on January 24. In the meeting, the two Ministers discussed efforts to promote the relations between the Republic of Korea and the Federative Republic of Brazil, as they mark the 60th anniversary of diplomatic relations; ways to step up economic cooperation, including an early conclusion of a trade agreement (TA) between the ROK and the Southern Common Market (MERCOSUR); ways to increase substantive cooperation in such sectors as infrastructure, high technology, education and tourism; and the situations on the Korean Peninsula and in Latin America.

2. Minister Kang, extending congratulations on the inaugurations of Minister Araujo and the new Brazilian government, suggested that with the year 2019 marking the 60th anniversary of the establishment of diplomatic relations, the two countries conduct a variety of commemorative projects, boost high-level exchanges, and put in high gear the existing consultative channels in a bid to further strengthen the bilateral ties.

° Minister Araujo, bringing attention to President Bolsonaro’s view of the ROK as a model Brazil should learn from as well as the President’s strong hope to further deepen ties with the ROK, expressed expectation to promote ties with the country.

3. Minister Kang forecast that the currently negotiated ROK-MERCOSUR TA, when concluded, would lead to great growths in trade and investment between the two countries, asking that Brazil render robust cooperation to make smooth progress in the second round of negotiations, which is scheduled for March 2019.

° Minister Araujo, sharing Minister Kang’s view that the ROK-MERCOSUR TA should be concluded as soon as possible, spoke about the new Brazilian government’s economic policy direction, including its privatization efforts and eased regulations. He went on to ask Korean enterprises to pay attention to the privatization policy of the new Brazilian government.

4. The two sides agreed to further enhance cooperation in such areas of mutual interest as infrastructure, high technology and education; and to make various efforts to promote exchanges between people of the two countries, including concluding in 2019 an exchange of notes on the working holiday program.

5. Minister Kang asked the Brazilian government to remain supportive of the ROK government’s work to achieve denuclearization on the Korean Peninsula and promote inter-Korean relations. Minister Araujo expressed support for efforts toward the denuclearization and the establishment of peace on the Korean Peninsula. Explaining the current situation in Venezuela, he underscored the need for continued attention of the international community to the issue.

6. At the first ROK-Brazil foreign ministerial meeting since the inauguration of the new government in the latter country on January 1, 2019, the two sides, in the year marking the 60^th anniversary of diplomatic relations, agreed to further advance the bilateral ties; and confirmed areas of shared interest. Accordingly, the meeting is seen to have served as an opportunity to pursue more tangible cooperation between the two countries.

* unofficial translation