On Tuesday, the Honourable Mélanie Joly, Minister of Foreign Affairs, and the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, launched a high-level economic security dialogue with their Korean counterparts, Park Jin, Minister of Foreign Affairs, and Ahn Dukgeun, Minister for Trade.
The launch of the dialogue reflects the increasing importance of economic prosperity and national security amid geopolitical challenges. It also underscores the continued need for a rules-based international order.
Canada and South Korea are seeking to work together to strengthen and secure value chains in key areas including critical minerals, batteries, artificial intelligence and electric vehicles, while ensuring high labour and environmental standards.
While in South Korea, Minister Champagne also met with top business and industry leaders, including representatives of Hyundai Motor Company, Solus Advanced Materials, Hanwha Group and EcoPro. The Minister took this opportunity to highlight Canada's strong investment environment and opportunities for strengthening partnerships in the transition to a net-zero economy.
As fellow Pacific nations, Canada and South Korea both have a defining role to play in promoting and ensuring long-term economic prosperity and security in the Indo-Pacific region.
Canada and South Korea enjoy close relations, strengthened by people-to-people ties and by Canada's first and only bilateral free trade agreement in the Asia-Pacific region-the Canada-Korea Free Trade Agreement.
