Press Release No. 149-03
9 April 2003

ASEAN CONCLUDES 7th DIALOGUE WITH REPUBLIC OF KOREA

The Philippines, through the ASEAN-Philippines Secretariat of the Department of Foreign Affairs, successfully hosted the 7th ASEAN-Republic of Korea (ASEAN-ROK) Dialogue at the Shangri-La Hotel, Makati City, on 8-9 April 2003.

The Dialogue was co-chaired by Lauro L. Baja, Jr., DFA Undersecretary for Policy, and Amb. Lee Tae-Shik, former deputy Minister of the ROK Ministry of Foreign Affairs and Trade, with delegations from all ten ASEAN member countries and the ROK.

During the plenary sessions, ASEAN and the ROK reviewed dialogue relations and recent regional and international developments, as well as political and security issues. The ROK briefed their ASEAN partners on new developments in the Korean Peninsula, particularly the DPRK’s nuclear weapons development program, and the “Policy of Peace and Prosperity” being instituted by the new administration under President Roh Moo-Hyun. The new policy on engaging DPRK provides a broader perspective on peace to ensure shared prosperity  in the whole region, and builds on the groundwork laid out under the previous administration’s “Sunshine Policy.”

ASEAN welcomed the ROK’s new policy towards DPRK. ASEAN also informed the Meeting on the continuing efforts exerted by Cambodia, the current ASC/ARF Chair, in facilitating the dialogue between the concerned parties. Both ASEAN and the ROK expressed their commitment to continue efforts to engage the DPRK.

For its part, ASEAN informed the ROK on the current situation in Southeast Asia such as the recent bilateral and sub-regional counter-terrorism activities, regional efforts in counteracting transnational crimes, new initiatives in advancing ASEAN’s dialogue relations, and directions in regional economic integration. ASEAN and the ROK also discussed and explored ways of facilitating development cooperation, as well as enhancing trade, investment and tourism between the two sides.

It was noted by both ASEAN and the ROK that despite the fallout from the financial and economic crisis of 1997-1998, the ROK remained one of the top ten largest investors in ASEAN. Nonetheless, both sides agreed that there were still more opportunities to bolster investment cooperation. ASEAN requested the ROK to assist in encouraging increased Korean investment flows into ASEAN countries through incentive measures and equitable tax treaties and proposed that ROK provide support for training courses and seminars related to investment promotion strategies and policies for ASEAN investment officials.

ASEAN also conveyed its deep appreciation to the ROK for its pledge to contribute USD 5 million over the next 6 years for the 3 or 4 projects under the Initiative for ASEAN integration Work Plan.

The 7th ASEAN-ROK Dialogue marks the end of the Philippines’ term as country coordinator for ASEAN-ROK relations. Myanmar will assume as country coordinator for ASEAN-ROK relations by July 2003. - END