Lee: Korea and Mongolia Reach an Agreement in Principle on CEPA, Aim for $1 Billion in Trade by 2030

 [Financial News, Ulaanbaatar, Mongolia and Seoul = Reporters Seong Seok-woo and Choi Jong-geun]President Lee Jae-myung said he would open a "golden era in Korea-Mongolia relations" during his state visit to Mongolia. He pointed to the adoption of a joint declaration as a key outcome of the summit and stressed that the two countries would work together to reach $1 billion in bilateral trade by 2030, following the agreement in principle on the Comprehensive Economic Partnership Agreement (CEPA).
At a joint press briefing on the 9th, local time, after summit talks with Mongolian President Ukhnaa Khurelsukh, Lee said, "I would like to emphasize that this visit is a highly meaningful one, as it is the first state visit by a president of the Republic of Korea in 15 years and opens a new chapter in the history of our bilateral relations and cooperation."
Lee said, "The biggest achievement of this summit is that the two presidents confirmed a shared vision of opening a 'golden era in Korea-Mongolia relations' together and adopted a joint declaration that sets out the direction for the development of our ties."
He added, "This joint declaration will serve as an important milestone in turning the coming years into the 'golden era of Korea-Mongolia relations,' built on more than 30 years of friendship and trust between our two countries." He also said he hoped the two nations would use the declaration as a foundation to improve livelihoods for their people and contribute to peace and development in the region.
cjk@fnnews.com Choi Jong-geun, Seong Seok-woo Reporter