Japan & South Korea try to overcome crisis

by: Taufik Wisastra

SEOUL (Bloomberg): Japanese PM Taro Aso and South Korea President Lee Myung Bak pledged to work together in the global financial crisis.

"The cooperation between the two countries is more important in the current global economic crisis. I expect to work more closely with one another, also in the international forum," Aso said to Lee at the beginning of the high-level meeting in Seoul today.

Japan and South Korea to seek increased economic relations to encourage growth. Japan's economic slump 2.85% in the three months ended December 31, according to the Bloomberg survey of economists.

Bank of Korea cut interest rates 50 basis points to reach the lowest record on January 9 in line with the economy memburuknya faster than expected.

The two countries will enhance efforts to review the negotiations will start again for approval of free trade or economic partnership agreements. The two countries will also take steps to attract the manufacturer of engine spare parts business in Japan to establish South Korea. (tw)
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Source : http://web.bisnis.com/keuangan/ekonomi-internasional/1id96787.html