On January 11, the Trade Representative of the Russian Federation in the Republic of Korea, Mr. Alexander Masaltsev, discussed the prospects for the development of bilateral trade and economic cooperation with the Vice President of the Korean International Trade Association (KITA), Mr. Jo Hakhee. Due to the social distancing regime in force in South Korea, the negotiations were held online.
The officials discussed the results of Russian-South Korean interaction in 2020, the impact of the pandemic on its dynamics, prospects for further deepening and expanding bilateral ties in the post-COVID period. An exchange of views took place on possible forms of organizing joint international economic events that would contribute to the expansion of bilateral trade in 2021.
Noting a number of success stories that took place in the past year despite the pandemic, the parties confirmed their interest in further diversifying bilateral trade and economic cooperation, including increasing the share of Russian non-resource, non-energy exports to the Republic of Korea and advanced localization of South Korean enterprises in Russia.