President Lee Announces Launch of Dialogue Channel with Mexico on Crude Oil and Critical Resources Supply Chains

President Lee Jae-myung, who is on a state visit to Mexico, announced that South Korea and Mexico have agreed to launch an inter-agency dialogue channel between the two countries to discuss crude oil and critical resources in the supply chain sector.

President Lee held a one-on-one meeting and an expanded luncheon summit lasting about two hours with Mexican President Claudia Sheinbaum on the morning of September 24 (local time), and stated during a joint press announcement, "Since our phone call last May, President Sheinbaum has provided tremendous support to ensure additional crude oil supplies are delivered to our companies. I express my gratitude once again, and both countries have agreed to continue cooperation to secure stable crude oil imports."

President Lee explained, "We agreed to explore cooperation opportunities to expand bilateral trade and investment," adding, "Above all, I emphasized that concluding a trade agreement is essential to expand bilateral trade and investment and create a stable business environment."

He also noted, "The two countries successfully concluded negotiations to revise the investment guarantee agreement, which had been underway for seven years, and agreed to work toward bringing the revised agreement into effect as soon as possible through necessary procedures such as parliamentary ratification."

Regarding high-tech industries, he said, "Our government and businesses will form a public-private delegation to visit Mexico in November this year to discuss measures to accelerate digital cooperation," adding, "Through the 'Korea-Mexico Space Day' event to be held in Mexico in November, we will identify specific projects to enhance competitiveness in the aerospace industry."

Regarding defense industry cooperation in particular, he said, "We also agreed to seek ways for South Korea to contribute to the military modernization process being pursued by Mexico," adding, "We look forward to special interest and support so that South Korea's superior defense technology can lead to local production in Mexico, allowing both countries to jointly enter third-country markets."

President Lee said, "Interest in culture is also heating up," adding, "We agreed to continue discussions on establishing related facilities in Mexico so that Mexican citizens can experience K-culture more frequently and easily." He continued, "We will establish a working group within this year to foster an environment for joint content production between the two countries."

President Lee also stated that South Korea and Mexico have established concrete cooperation frameworks and action plans in areas such as public security, agriculture, and anti-corruption.

Regarding Korean Peninsula issues, President Lee stated, "President Sheinbaum expressed firm support and willingness to cooperate on our policy of peaceful coexistence on the Korean Peninsula," adding, "The two countries will continue to cooperate closely for peace and stability on the Korean Peninsula and in the international community."

At the end of the joint press announcement, President Lee quoted the Spanish proverb "La unión hace la fuerza" (Unity makes strength), saying, "I look forward to opening a new chapter in bilateral relations based on today's discussions."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.