Lee's European Visit Highlighted by ROK-EU FTA

President focuses on pragmatic summit diplomacy

President Lee Myung-bak has made a series of visits to European nations where Korea has remained a relatively little-known country despite increasing significance as a trading partner and a major world economy.
His visit also drew attention as it was highlighted by the signing of a free trade agreement (FTA) between Korea and the European Union on July 13, wrapping up a more than two-year negotiation process.
President Lee said in a joint press conference, following the Korea-Sweden summit in Stockholm, that he and Swedish Prime Minister Fredrik Reinfeldt welcomed the final free trade agreement reached between Korea and the EU.
The two leaders also expressed hope that the Korea-EU FTA signing process would proceed soon. Sweden currently holds the six-month rotating EU presidency.
The Swedish Prime Minister said that there has been significant progress in the bilateral FTA negotiations over the last week, and hoped that Sweden would be able to iron out differences of opinions among the EU members until the deal is finally signed.
Meanwhile, Korea's Trade Minister Kim Jong-hoon and his Swedish counterpart Ewa Bjorling had a meeting and distributed a press communique detailing the free trade agreement between Korea and the EU, which is considered by many as the conclusion of the deal.
Korea and the EU are set to embark on efforts to iron out differences in legal matters soon with the goal of extracting an initial document around September. The bilateral FTA is expected to take effect late this year or early next year, after the agreement is reviewed and ratified by 28 legislatures ― Korea and the EU member countries.
The EU, composed of 27 member nations, is the world's largest single economic bloc with a population of 500 million and a GDP of US$17 trillion. For Korea, the bloc is its second largest trading partner after China.
Regarding the agreement, President Lee said the Korea-EU FTA will not only bring benefits to the two economies, but also send a strong message to the world against global protectionism.
The president also said earlier in the day through a radio address broadcast in Korea that the Korea-EU FTA will bring epoch-making changes to Korea's trade.
Lee returned home on July 14, wrapping up his eight-day trip to Europe.
The Presidential office of Cheong Wa Dae said the biggest achievement of Lee's visit to Europe was finalizing the details of a Korea-EU Free Trade Agreement.
Although the European tour began partly with the purpose of attending the extended G-8 summit in L'Aquila, Italy, President Lee focused more on drawing out the final details for the Korea-EU FTA.






























Lee made state visits to, in order, Poland, Italy and Sweden. It is largely viewed that this was to persuade the Polish and Italian heads of state first ― the two countries that have maintained a relatively negative attitude toward the FTA ― before settling on the details with Sweden, the chair-nation of the EU.
During the extended G-8 Summit on July 10, President Lee and Italian Prime Minister Silvio Berlusconi agreed in principle on the need to conclude the Korea-EU FTA. Even earlier, President Lee also got a favorable response on the same issue during his summit meeting with Polish President Lech Kaczynski on July 8.
The president was also praised for having engaged in successful summit diplomacy.
"Seeing how world leaders value our opinion and proposals at the G-8 meeting in L'Aquila, I was able to confirm that the world is placing higher confidence in Korea,"President Lee said in his recent radio and Internet speech. President Lee, who was invited to the G-8 meeting for two years in a row, suggested forming a working-level group for a Major Economies Forum on Energy and Climate (MEF). His proposal was immediately adopted by U.S. President Barack Obama, who was also the chairman of the meeting.
During the G-8 trade session, President Lee, as a leading speaker, pointed out that efforts must be made to conclude the Doha Development Agenda at the next regular session of the World Trade Organization, scheduled for December this year in Geneva, Switzerland. This suggestion was reflected in the G8+G5 joint declaration ― which Korea did not take part in ― and also influenced the agreement to hold a trade ministers'meeting just ahead of the G20 meeting in Pittsburgh, Pennsylvania, in September this year.
"The world seemed to have noticed Korea's consistency in calling for the exclusion of trade protectionism," President Lee said during the press conference held in Stockholm, Sweden.
Korea was also selected as the leading nation in the field of smart grids and attracted further attention with its low carbon, green growth policy.
Lee became the third Korean president to meet with the Pope in Vatican City, making a courtesy call on Pope Benedict XVI.
As he had been advocating pragmatic policies in domestic politics, Lee has also been pursuing highly practical stances in his summit diplomacy. nw

Heads of state, including Korean President Lee Myung-bak, hold a working session on food security for the extended G-8 Summit in L'Aquila, Italy July 10.

Korean President Lee holds summit talks with Russian President Dmitry Medvedev during the extended G-8 Summit.

(clockwise) Korean President Lee holds summit talks with Canadian Prime Minister Stephen Harper during the extended G-8 Summit on July 10; Lee shakes hands with Australian Prime Minister Kevin Rudd on July 10; Lee has summit talks with Polish President Lech Kaczynski in Warsaw, Poland on July 8; Lee pays a courtesy call on Pope Benedict XVI at the Vatican on July 9;Lee holds summit talks with Swedish Prime Minister Fredrik Reinfeldt in Stockholm on July 13; Korean President Lee meets with Italian Prime Minister Silvio Berlusconi on July 10 on the sidelines of the G-8 Summit.

Photo by courtesy of the MCST