1. Foreign Minister Yun Byung-se had a meeting and luncheon with Panama’s Vice President and Foreign Minister Isabel de Saint Malo in Panama City on August 19, and exchanged in-depth views on major issues between the Republic of Korea and Panama and other issues of mutual concern.

2. The two Ministers noted with appreciation that the ROK-Panama relations have developed in a wide range of areas since the two countries established diplomatic relations in 1962. They also shared the view that there is great potential for cooperation in various areas, including economy, development cooperation, climate change response, natural disaster prevention, and tourism.

3. Minister Yun expressed appreciation to Panama for publicly supporting an ROK candidate in the latest election for the post of the International Maritime Organization (IMO) Secretary-General, and hoped that Panama, which is a maritime power, will further increase maritime cooperation with the ROK.

4. Minister Yun explained the situation on the Korean Peninsula, including the North Korean nuclear issue. Minister Saint Malo reaffirmed Panama’s firm support for the ROK government’s efforts and policies to achieve the peaceful unification and denuclearization of the Korean Peninsula.

5. Stating that Korean companies are contributing to building infrastructure and socio-economic development in Panama by participating in various infrastructure projects in the country, Minister Yun requested Minister Saint Malo’s special attention and support for Korean companies doing business in Panama.

6. In addition, Minister Yun welcomed the upcoming first round of the ROK-Central America FTA negotiations, scheduled to take place in Seoul in September after the two sides officially announced the start of negotiations in mid-June. Minister Yun expressed his hope for Panama’s active cooperation and role in the negotiation process.

7. Minister Saint Malo showed keen interest in the ROK’s development experience, as well as its education and waste management sectors, and expressed hope that the ROK will share its experience with Panama in those areas.

8. Meanwhile, on the afternoon of the same day, Minister Yun paid a courtesy call on President of Panama Juan Carlos Varela, and discussed issues between the two countries, as well as ways to cooperate on various global issues, including climate change, disaster prevention, healthcare, and terrorism. They also exchanged views on ways to increase Korean companies’ opportunities to participate in infrastructure projects in Panama, including in the areas of public sanitation, logistics, and transportation.

9. With Panama growing into a finance, trade, logistics and transportation stronghold in Central America, especially centered around the Colon Free Trade Zone and the Panama Canal, the latest ROK-Panama Foreign Ministers’ Meeting served as an opportunity to explore ways to enhance connectivity and cooperation in a range of areas with Panama, a traditional ally of the ROK, as well as to reaffirm Panama’s support for the ROK’s policy on the peaceful unification of the Korean Peninsula. This Meeting is also expected to have a positive impact on Korean companies’ efforts to enter the Panamanian market and expand participation in various infrastructure projects in Panama.


*unofficial translation