S. Korea, U.S. to enhance bilateral cooperation in ASEAN countries
Updated: 2019-11-06 16:46:50 KST
Seoul and Washington will increase their bilateral economic cooperation in ASEAN and other regions, in line with South Korea's New Southern Policy and the Indo-Pacific Strategy of the U.S.
At the 4th Republic of Korea-United States Senior Economic Dialogue on Wednesday, Seoul's second Vice Foreign Minister Lee Tae-ho and Keith Krach, undersecretary for economic affairs from the U.S. State Department signed a joint statement on their plans.
Lee said the two countries aim to further their ties in ASEAN, driven by their shared goal and the immense potential that lies in it.
One of their main aims is facilitating development business in Mekong region.
Seoul and Washington will strengthen coordination to implement an advanced data-sharing system in the area, so that it can better manage water resources in the case of floods and droughts.
The project is led by the two governments, Korean Water Resources Corporation and NASA.
This follows the previously signed MOU, which seeks to improve social development in ASEAN countries, from women's empowerment to environment protection and the digital economy, while building financial infrastructure through joint investment.
They will also promote projects for sustainable and smart growth in the region, like South Korea's recent deal with Vietnam on making a smart city in Quang Nam Province.
These co-prosperity plans are expected to be a win-win for all parties involved, and their progress will be discussed as early as next year in Washington D.C.