Launch of the EU-Korea High-Level Industrial Policy Dialogue
The Ministry of Trade, Industry and Energy of the Republic of Korea and the European Commission Directorate General for Enterprise and Industry established a High Level Industrial Policy Dialogue. The dialogue was announced at the last EU-Korea Summit, and was formally launched when Enterprise and Industry Director-General Daniel Calleja met his counterpart Vice Minister Lee Kwansup to sign the arrangement between the partners.
The objectives of the Dialogue are
- to provide a channel for constructive and future-oriented exchanges of information and experiences on industrial policy and related policies and measures, with a view to improving the framework conditions for enterprises.
- to promote sustainable development and prosperity of the industrial sectors, boosting contacts between business to facilitate industrial collaboration.
- to promote the competitiveness of small and medium sized enterprises across all sectors including through internationalisation.
- to identify and support the development of joint programmes of cooperation to develop business activities and strengthen bilateral industrial collaboration.
- to contribute to the full implementation and spirit of the Free Trade Agreement (FTA), by promoting the mutual understanding of industrial policy developments on both sides.
During this first first meeting of the Dialogue, the main topics were cooperation to support the SMEs, technical cooperation, innovation, regulatory cooperation, industrial safety and shipbuilding.
As a highly developed economy, the Republic of Korea is an important partner for the EU and offers major business opportunities. At the same time differences in business culture or regulatory requirements are obstacles companies need to overcome.
The Dialogue will contribute to strengthening the EU-Korea relationship, to improving mutual understanding, to eliminating the remaining regulatory obstacles where possible and to creating new opportunities notably for SMEs.
