Statement by the Press Secretary/Director-General for Press and Public Relations, Ministry of Foreign Affairs, on the Basic Agreement on the Agreement between Japan and the Republic of Korea concerning Liberalization, Promotion and Protection of Investment

December 22, 2001

  1. The ninth plenary consultation on the Agreement between Japan and the Republic of Korea for the Liberalization, Promotion and Protection of Investment was held on December 22 in Tokyo. I welcome the fact that as a result, Japan and the ROK reached basic agreement on the Agreement, and I also hope that the Agreement will contribute to promoting Japan's investment in the ROK, and to making economic relations between the two countries even closer.

  2. Negotiations for the Agreement started in September 1999 with proposal from the ROK. Consultations were held from the viewpoint of establishing principles of liberalization of investment (to give the national treatment and most-favored-nation treatment when investment is permitted). At the Japan-ROK summit meeting held in October 2001, it was confirmed that basic agreement on the Agreement should be reached within the year.
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