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Title	Opening remarks for the Joint Committee on Commercial Cooperation
Date	2010/07/26	Hits	282
File	Opening remarks for the Joint Committee on Commercial Cooperation .doc(26.5 KB)
Opening remarks for the Joint Committee on Commercial Cooperation between the Ministry of Knowledge Economy and the U.S. Department of Commerce by Minister Choi Kyunghwan July 20, 2010 Washington D.C. Good afternoon, Ladies and gentlemen, Thank you Secretary Locke for your warm welcome and the enthusiasm you have shown for this important joint committee. You and I and everyone in this room-- we are committed to finding ways to help our economies become more robust and industries more competitive. So this is a very good time for Korea and the US to build on our close friendship and explore cooperation on many fronts. I`ll focus on three areas that will be discussed today. First of all, I was deeply impressed by President Obama`s policy initiative earlier this year-- calling for a boost in exports. Like all of you, we in Korea also recognize the significant correlation between healthy exports and job creation. As mentioned in the `National Export Initiative,` approving free trade agreements is a crucial component to expanding export markets. That`s why I am confident we will be able to see the KORUS FTA take full effect soon. I expect even more active trade and investment to take root between our two countries. Secondly, `industrial cooperation` is a broad term but I think the most substantial progress would come about as a result of joining our R&D capabilities. This could help both sides find new growth engines and regain industrial competitiveness for existing industries. To succeed with up-and-coming projects-- like electric cars and smart grid-- you need cutting-edge R&D. But more importantly, because of the high-risk in pursuing such a nascent field, it`s always better to have a steady, reliable partner in the project. Another area for joint cooperation is standardization. This will reduce the time, energy and money that is needlessly wasted when different standards are used-- especially for export markets. And finally, there has been tremendous interest in how Korea has been able to effectively and conveniently operate the `online export control system.` There is no reason why we could not take this system to many other parts of the world-- to ensure permanent peace and lasting security. Last week, President Obama gave a stirring speech to celebrate LG Chem`s new plant site that will produce batteries for electric cars. This is a great example of Korean and American companies coming together-- not only to make old industries `new` but also create hope for better days ahead. I am encouraged by your strong interest in today`s proceedings. We`re off to a great start and I look forward to your constructive discussions. Let`s keep this momentum going. Thank you!

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	Welcoming address at Korea-Germany Cooperation Committee on Science and Industrial Technology