Korean Ambassador Dongil Oh says Korea and T&T enjoy a favourable bilateral trade relationship that is worth over US$200 million.
He and his wife Miwha Park hosted a reception celebrating the anniversary of the National Foundation Day of the Republic of Korea, at the Hyatt Regency, Port-of-Spain, on September 29.
Minister of Foreign and Caricom Affairs Dr Amery Browne joined Oh and Park in toasting the Republic of Korea’s National Foundation Day with Korean soju (rice wine) along with other MPs, Heads of Mission, other members of the Diplomatic Corps, dignitaries, members of staff of the Embassy of the Republic of Korea and guests.
Oh said, “Korea was the seventh largest export destination for Trinidad and Tobago in 2021.
“Korea’s share in T&T’s export was even greater than the combined volume toward China and Japan, our big neighbours in Asia.
He added, “This bilateral trade brought surplus to Trinidad and Tobago exceeding over 200 million USD, and noteworthy exports from T&T are methanol and ammonia, while Korean vehicles like Hyundai and Kia together with Samsung cell phones are enjoying popularity in T&T.”
He said Korea was leading the world in the Fourth Industrial Revolution with its cutting-edge technology such as AI, IoT, 6Gs and others, and we are ready and willing to take a lead in global co-operation for the betterment of the world by sharing our developmental experiences.
Browne said the gathering came on the heels of a period of very active high-level engagement between T&T and Korea.
He said in July, Prime Minister of the Republic of Korea Han Duck-soo visited T&T as a guest of Caricom on the occasion of the 45th Regular Meeting of the Conference of Heads of Government of the Caribbean Community and the 50th anniversary of the Caribbean Community and met for bilateral discussions with Prime Minister Dr Keith Rowley.
Browne said T&T was appreciative of the commitments given by Han Duck-soo of Korea’s deeper co-operation with the region in areas such as climate change, management of the marine environment, food security, and renewable energy, as well as its increased support for the region through the Caricom-Korea Cooperation Fund.
