SEOUL– South Korea welcomes Washington’s forthcoming economic framework for the Indo-Pacific and will deliver its position to the U.S. government at an early date, the foreign ministry said Wednesday.
The Joe Biden administration is expected to unveil the new economic framework following the release of Washington’s new Indo-Pacific strategy last month, which is widely seen as U.S. efforts to counter China’s growing economic clout in the region.
Second Vice Foreign Minister Choi Jong-moon had a phone conversation with Jose Fernandez, the U.S. undersecretary of state for economic growth, energy and the environment, to discuss the Indo-Pacific Economic Framework and other trade issues, the ministry said in a release.
Fernandez explained the U.S. plan on fair trade practices and expressed hope for continued cooperation with South Korea in the area, while Choi said the Seoul government will deliver its position on the framework soon after completing intergovernmental reviews, the ministry said.
The two officials agreed to hold the annual high-level bilateral economic consultations in fall to discuss ways to deepen the economic ties, it added.
Source: Yonhap News Agency