Crude oil prices continued to linger near the US$80 per barrel level on which this country’s budget is based yesterday.
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South Korea seeks defence co-operation
South Korea, has asked T&T to consider increasing bilateral co-operation in the defence industry, according to a translated release from that country’s Ministry of Foreign Affair. High-level policy consultations took place in Port-of-Spain on April 11, with Director-General for Latin American and Caribbean Affairs Jang Myung-soo and Permanent Secretary in this country’s Foreign Affairs Ministry, Margaret Parillon. The Republic of Korea-Trinidad and Tobago High-Level Policy Consultation is the first official channel for bilateral dialogue since two countries agreed to it during a visit by Foreign Affairs Minister Winston Dookeran to Seoul last July.
“The Republic of Korea side, citing the defence industry as a specific, promising sector for co-operation, asked the Trinidad government to consider expanding substantive co-operation in the sector,” the release said. The two sides took note of the steady increase in bilateral co-operation in various sectors, including politics, economy, trade and culture, since the establishment of diplomatic relations in 1985, and agreed to further expand and move co-operative ties forward. It was also noted that holding the consultation less than a year after agreement was reached to establish the mechanism, “reflects the highly co-operative mood” between the two countries. They agreed to actively use the mechanism as a platform for discussions on ways to advance bilateral ties.
The Korean side underscored that T&T, a country with abundant energy resources, and Korea, whose energy and infrastructure construction sectors are globally competitive, have great potential for economic co-operation. The two countries agreed to promote co-operation between the Korea National Diplomatic Academy (KNDA) and a similar academy to be opened in T&T next month.