S. Korea, Japan agree to improve bilateral ties

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(Xinhua)
Updated: 2009-01-12 14:06

SEOUL -- South Korean President Lee Myung-bak and Japanese Prime Minister Aso Taro on Monday agreed here that the two nations will make joint efforts to improve bilateral ties and promote cooperation in coping with financial crisis.

At a joint press conference held after the summit meeting between Lee and Aso, Lee said the two leaders held very substantial and detailed discussions on closer economic cooperation.

The two sides agreed to boost Japanese enterprises' investment in South Korea, expand cooperation on financial issues, extend exchanges in science and technology and seek joint efforts in nuclear issues on the Korean Peninsula and the reconstruction in Afghanistan, Lee said.

Aso said the two sides agreed to push forward the resumption of negotiations on free trade agreement and hailed Lee's promise to visit Japan within this year.

The two side reached consensus on seeking the denuclearization of the Democratic People's Republic of Korea (DPRK) within the framework of six-party talks on the nuclear issues on the Korean Peninsula with close coordination and patience, lee said.

The two leaders also agreed to promote people-to-people exchanges between South Korea and Japan.

Lee Myung-bak said he and Aso agreed to closely cooperate on reforming their financial systems, drawing up macroeconomic policies and in dealing with protective trade blocs ahead of the G- 20 summit scheduled to be held in London in April.

As a first move to increase cooperation and reduce trade deficits, Seoul has agreed to actively support Japanese investment in the parts and materials sector, which was largely blamed for Seoul's $30 billion trade deficit with Japan in 2008, Lee said.

It was the fifth meeting between Lee and Aso since Aso took office in September last year. Aso said the two sides didn't " directly" talked about historic issues and territorial disputes between the two neighbors.