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Moon vows to increase trade with Singapore, Southeast Asia

/ 04:50 PM July 12, 2018

South Korea President Moon Jae-in (left) and Singapore Prime Minister Lee Hsien Loong hold a press conference at the Istana Presidential Palace in Singapore on July 12, 2018. AP

SINGAPORE — South Korea’s president has pledged to increase trade with Singapore as part of a strategy to raise its economic influence in the region.

President Moon Jae-in says the two countries agreed to “invigorate mutual investment” by significantly increasing the trade volume, which is currently at $20 billion.

He says: “We will spare no effort to ensure that the companies of our two countries will be able to do joint projects and make joint inroads into third countries together.”

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The push is in line with the country’s “New Southern Policy,” which aims to strengthen its relationships with the 10-member Association of Southeast Asian Nations.

Moon is on his first state visit to Singapore until Friday. /ee

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TAGS: Korean trade with Southeast Asia, Singapore, South Korea, Southeast Asia, Trade
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