Canada, South Korea eye closer trade ties as Trudeau makes 1st official visit – National | 24CA News
Prime Minister Justin Trudeau arrived in Seoul on Tuesday for his first official go to to South Korea as each international locations attempt to construct nearer financial and cultural ties and work collectively on international safety considerations.
“I don’t think there was a time when Korea and Canada were so close as now, and I don’t think we’ve had any period where our two leaders have met so frequently,” Lim Woongsoon, South Korea’s ambassador to Canada, stated final week in an interview in Ottawa.
The go to by Trudeau, who is anticipated to stay within the nation till Thursday earlier than he heads to the G7 leaders’ summit in Hiroshima, Japan, follows South Korean President Yoon Suk Yeol’s journey to Ottawa final fall.
Since then, each international locations have launched their Indo-Pacific methods. They present a highway map for strengthening army and financial relationships within the area to counterbalance the affect of China.
Tina Park, a lecturer on the University of Toronto and CEO of The Park Group, says the frequency of conferences between the leaders displays their dedication to constructing a stronger relationship.
“There is a new momentum as we reflect upon the 60th anniversary of diplomatic relationship between Canada and Korea this year,” Park wrote in an e mail.
South Korea is Canada’s seventh-largest buying and selling companion for each imports and exports, amounting to $16.7 billion in merchandise commerce in 2021.
Trudeau is anticipated to deal with the nation’s National Assembly on Wednesday. He can be scheduled to go to the Seoul National Cemetery and take part within the opening of a commemorative path honouring the sacrifices of Canadians troopers through the Battle of Kapyong.
The clear economic system and local weather change, in addition to establishing a youth mobility program between the 2 international locations, are among the many journey’s priorities.
Lim stated there’s ample purpose for Canada and South Korea to strengthen their financial and people-to-people ties. In addition to its sizable diaspora in Canada, he stated South Korea has important business pursuits within the essential minerals Canada has to supply, and each international locations are aligned of their commitments to maneuver away from carbon-emitting fuels.
“We have something more than K-pop and K-drama,” he stated with a chuckle, referring to genres of music and tv exhibits from the nation which have develop into widespread world wide.
Canada and South Korea additionally seem like in talks on make it simpler for younger folks to work in each international locations, with Lim saying they anticipate to signal a memorandum of understanding on youth mobility.
He didn’t give particulars, however the two international locations have already got a working-holiday program. Canada has agreements with different international locations to difficulty visas for pupil internships and profession growth for younger professionals.
“We are going to have more Korean young people come to Canada next year,” Lim stated.
The Liberal authorities is targeted on constructing a better relationship with each South Korea and Japan, because it appears to be like to broaden its alliances past conventional western companions amid a rising menace from Russia and rigidity with China.
Both international locations have been longtime allies and buying and selling companions and Foreign Affairs Minister Melanie Joly has stated the connection with every is so pure that Ottawa has at instances taken it with no consideration. But international instability is a time to shore up these bonds, she stated.
“We want to be as close to Korea, to Japan as (we are) to Germany, France and Great Britain; that’s our goal,” Joly stated final December.
Industry Minister Francois-Philippe Champagne and Joly are anticipated to be in Seoul on Tuesday to launch a “high-level dialogue on economic security,” which suggests a dedication to have recurring conferences and observe their progress on shifting away from their dependence on China.
Lim stated South Korean corporations are involved about overreliance on Chinese suppliers. The ambassador stated that’s why Trudeau’s go to will concentrate on supply-chain resilience, with the clean-energy transition at “the top of the agenda.”
South Korean corporations have proven curiosity in Canada relating to electrical automobiles. SK On Co., for instance, needs to launch a battery-component manufacturing facility in Becancour, Que.
Now, there’s a dispute between the federal authorities and automaker Stellantis, which was developing an electric-vehicle battery plan in Windsor, Ont., in partnership with South Korean battery-maker, LG Energy Solution.
Stellantis stopped development on Monday, saying the federal authorities “has not delivered on what was agreed to.” The federal authorities says negotiations are ongoing.
Beyond essential minerals, Lim stated South Korea is targeted on shifting towards cleaner gas sources.
He stated South Korean corporations are investing massive in hydrogen ammonia crops world wide, and inquisitive about increasing in Canada. The ambassador tallies the present investments into Canadian inexperienced applied sciences at $8 billion.
The Business Council of Canada is looking on Trudeau to make a extra vocal case for liquefied pure fuel, after an Indo-Pacific technique that centered extremely on renewables. Both Japan and South Korea try to wean themselves off coal, and Canadian business argues LNG is an efficient transition gas as international locations section in applied sciences like hydrogen.
South Korea and Japan have each invested within the LNG Canada challenge set to launch in 2025, and Lim stated Seoul totally expects the second section of the challenge to proceed. He stated South Korea is dedicated to going carbon impartial however wants an interim answer because it tries to close down 50 coal energy crops.
“Our imports of LNG will be on the increase for the decades to come, because we need to phase down coal power plants ? rather dramatically, and LNG will be the most feasible alternative,” Lim stated.
— with recordsdata from Dylan Robertson in Ottawa.
