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HomeBusinessEconomyCanada - South Korean trade ministers discuss trade

Canada – South Korean trade ministers discuss trade

By Caribbean News Global fav

OTTAWA, Canada – Minister of small business, export promotion and international trade, Mary Ng, spoke with Yoo Myung-hee, South Korea’s minister for trade, to discuss their commitment to supporting international efforts to keep the global economy strong while ensuring the health and safety of people around the world.

The ministers spoke about getting small businesses and workers the urgent help they need to get through the COVID-19 crisis. They also emphasized the need to keep global supply chains open, as reflected in the recent joint action plan to facilitate the flow of goods, services, and people issued on May 1 by Australia, Canada, New Zealand, Singapore, and South Korea.

This close collaboration builds on the recent joint statements of G20 leaders and trade ministers, as well as Canada-led efforts at the World Trade Organization (WTO) to deliver commitments in support of rules-based trade and open agricultural supply chains, which provide stability and predictability for small businesses and entrepreneurs. The ministers discussed how best to use the Canada-led Ottawa Group on WTO reform to address COVID-19 challenges.

Minister Yoo welcomed the possibility of a visit from Minister Ng in the coming year to mark the fifth anniversary of the Canada-Korea Free Trade Agreement’s entry into force. As female trade ministers, they also noted opportunities to support businesswomen in trade.

Both ministers look forward to continuing to work closely together to advance trade policies in support of sustainable economic recovery and resilience for their small businesses and citizens.

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