1. First Vice Foreign Minister Lim Sung-nam met with Vice Foreign Minister Luis Miguel Hincapie of Panama in Seoul on January 11 to discuss major pending issues and other matter of mutual concern between the Republic of Korea and Panama.

2. The two Vice Ministers noted with appreciation the advances in the friendly and cooperative ties between the two countries in various sectors, including political affairs, economy, trade and investment, since the establishment of diplomatic relations in 1962. They shared the view that the two countries have a great potential for cooperation in additional fields, such as maritime transport, port development, environment and maritime affairs.

3. Vice Minister Lim extended appreciation to the Panamanian government for issuing on January 7 a government statement condemning the latest nuclear test by North Korea. In addition, he stressed that the international community should make a firm response in order for North Korea to pay a corresponding price for its erroneous action that poses a grave threat to peace and security of not only the Korean Peninsula but also the world.

◦ Vice Minister Hincapie reaffirmed firm support for the ROK government’s policy toward North Korea, saying that such a provocation as North Korea’s nuclear test deserves condemnation.

4. Vice Minister Lim, underscoring Korean companies’ contributions to the socio-economic development of Panama through various kinds of infrastructure projects in the country, asked for the Panamanian government’s keen attention to and support for the expansion of Korean enterprises’ presence in Panama to help the country expand its infrastructure.

5. Vice Minister Hincapie, expressing keen interest in cooperation with the ROK in the field of waste disposal and given that the field is directly related to public sanitation and environmental issues, voiced hope to work more closely together with Korean companies, including by sharing the ROK’s relevant experiences and knowhow.

6. Vice Minister Lim, noting with appreciation the smooth progress in the negotiations for an ROK-Central America FTA since the launch of the first round of talks in September 2015, asked the Panamanian government to play a constructive role for the conclusion of the FTA in order for the two countries to further increase cooperation in trade, investment and technology.

7. The meeting between the Vice Foreign Ministers of the ROK and Panama, a Latin American hub for finance, trade, logistics and transportation, served as an opportunity to reaffirm Panama’s firm support for the ROK government’s policy toward North Korea. It is also expected to contribute to the promotion of substantive cooperation between the two countries, including increased bilateral trade and the expanded presence of Korean companies in Panama.


* unofficial translation