Russia and South Korea have agreed on the need to consolidate cooperation in various fields, according to a joint Russian-South Korean statement made at the end of talks between Presidents Boris Yeltsin and Kim Dae-jung.
The fields include trade, investment activities, energy, use of natural resources, production and manufacturing industries, small and medium businesses, science and technology, communication, fisheries, sea transportation, environmental protection and regional cooperation.
The two sides agreed to study the possibility of setting up a committee on trade and investments on which the two cabinets and interested Russian regions would be represented. They share the view that the Russian-South Korean industrial complex in the Nakhodka free trade area is a useful project in promoting bilateral economic cooperation.
Russia and Korea want to overcome stagnation trends in economic exchanges between them, speakers said at the signing ceremony. Yeltsin said his talks with Kim Dae-jung "were aimed at meeting each other halfway." Numerous outstanding issues "had to be resolved through the Foreign Ministry and the Cabinet during the talks," he said.