South Korea and Mexico have agreed to restart negotiations so as to sign a free trade agreement. During his visit to Mexico, the South Korean President Lee Muyng Bak said that they have discussed the way to allow access to Korean companies to the Mexican international public tenders, even before signing the trade agreement.

After the meeting that he had with his Korean counterpart, President Felipe Calderon said that both parties have decided to promote a more active trade interchange. Same that has already grown from 3 thousand 900 million US dollars in 2001 to more than 11 thousand 400 million in 2009. They also agreed that the Korean Development Bank will grant a credit line to the Mexican Foreign Trade Bank (Bancomext) so as to strengthen the economical and commercial relationships, especially in technology.

Also, the Energy Ministry signed a Memorandum of Understanding with the Ministry of Knowledge Economy of the Republic of Korea, in the field of Energy Efficiency, which includes research projects and the exchange of experience with respect to policies and regulation.

The South Korean President said that they have decided to work to make the most of the Reciprocal Promotion and Protection of Investments Treaty, and also they have laid down the foundations to establish an air route between the two countries.

In a joint message from the steps of Los Pinos (the official residence of the Mexican President), Muyng-Bak thanked the active support given to his country after the sinking of the corvette Cheonan by a torpedo.

This ship sank in the Yellow Sea on 26 March; 46 sailors died and 58 were saved. South Korean experts sustain that the ship was hit by a torpedo from a North Korean submarine.

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This article is a translation from Spanish made by Encyclomedia of its original version. It was sent to us as an effort to show the large number of good news about Mexico which at times are not published in many places.