South Korea's Trade Minister Ahn Duk-geun on Thursday asked for the Swiss government's support for the European nation's bio companies to encourage them to expand investment in South Korea, Seoul's trade ministry said.
Ahn made the request during a meeting with Switzerland's economic minister, Guy Parmelin, in Seoul, as the two sides discussed ways to boost bilateral cooperation on trade, investment and the bioindustry, according to the Ministry of Trade, Industry and Energy.
"South Korea is actively nurturing the biosector, and the two nations have been working closely recently on digital and biohealth fields by using artificial intelligence and other advanced technologies. South Korea is an attractive investment destination," Ahn said during the meeting.
He also asked for the Swiss government's role in having its major pharmaceutical firms, such as Novartis and Roche, make a greater investment in South Korea.
During the talks, the two ministers agreed to continue consultations regarding upgrading the free trade deal between South Korea and the European Free Trade Association (EFTA), according to the ministry.
EFTA is the four-nation economic block comprising Switzerland, Iceland, Norway and Lichtenstein, and the Korea-EFTA agreement was signed in July 2005 to take effect the following year.
South Korea and Switzerland marked the 60th anniversary of forging diplomatic relationship this year.
Source: Yonhap News Agency