South Korea and Britain have launched a new high-level dialogue channel meant to discuss ways of stronger cooperation on a wide range of economic and financial issues, Seoul's finance ministry said Sunday. The inaugural meeting of the bilateral economic and financial dialogue took place in London on Thursday, according to the Ministry of Economy and Finance, adding Korean Deputy Finance Minister Choi Ji-young and Lindsey Whyte, the director general of Britain's HM Treasury, were in attendance. During the meeting, the two sides exchanged views on their domestic and global economic circumstances and discussed how to enhance two-way cooperation on supply chains and other economic security issues, multilateral economic cooperation and responses to climate change. Also on the table was Europe's new carbon tax rules of the Carbon Border Adjustment Mechanism, the ministry said. Meanwhile, the South Korean Deputy Finance Minister met major investors in Britain last week and asked for their greater investment in K orea while explaining the country's financial circumstances, investment incentives and various foreign currency bonds. The two sides agreed to launch a new dialogue channel between the two nations' finance ministries during a summit between South Korean President Yoon Suk Yeol and then British Prime Minister Rishi Sunak in November 2023. The two countries signed the Free Trade Agreement between them in August 2019, but the agreement came into effect in January 2021, following the United Kingdom's exit from the European Union. ( Source: Qatar News Agency
Friday, November 08, 2024