PGMA off to Seoul and Jeju, South Korea to attend ASEAN-ROK Commemorative Summit

SEOUL, South Korea, May 31 (PNA) -- President Gloria Macapagal-Arroyo will join heads of government of the Association of Southeast Asian Nations (ASEAN) in commemorating the 20th Anniversary of the establishment of dialogue relations between ASEAN and the Republic of Korea (ROK) in a Commemorative Summit that will be held in South Korea’s Jeju Island from June 1 to 2.

The President, who left Manila at 10:45 a.m. yesterday (May 30), will make a stopover here to hold bilateral talks with South Korean President Lee Myung-Bak and meet the representatives of the Filipino community, who have expressed excitement over the prospect of personally greeting the Chief Executive.

From Seoul, the President will proceed to Jeju Island for the start of the ASEAN-ROK Commemorative Summit.

The Summit will have two sessions.

In Session One, the leaders will review the status of ASEAN-ROK dialogue relations and find ways to strengthen its cooperative relations in the political, security, economic and social-cultural fields.

In Session Two, the leaders will seek ways to further strengthen cooperation, especially in addressing global challenges such as the financial crisis, energy security and climate change.

In an earlier interview, Press Secretary Cerge Remonde said that the bilateral meeting between President Arroyo and President Lee would be an “opportunity for the two leaders to discuss the state of bilateral relations and chart a new direction for a strategic and mutually-beneficial future, especially in the economic field.”

On the Commemorative Summit, Remonde said it would “affirm the two countries’ collaboration with the rest of the region and the international community in the face of global economic and security challenges.”

The Republic of Korea is one of the Philippines' most dynamic bilateral partners with bilateral trade amounting to around US$ 5.06 billion.

Over US$ 3 billion in Korean investments have topped the list in foreign domestic investment (FDI) inflows of the country, while over 600,000 Korean tourists annually take the largest share of the visitor arrivals in the Philippines.

Korean assistance has also provided much needed financing for development projects around the country, particularly in infrastructure, railway links, agriculture, information technology training and health.