President Lee Myung-bak said Friday that free trade with foreign countries
offers a good chance for South Korea's agricultural and fisheries sectors to
expand into overseas markets and become more competitive.
The
government will also support farmers by relaxing regulations and crafting
policies that back increased exports, he said.
"Free trade will serve
as a big opportunity to export our agricultural and fisheries products and
increase our competitiveness," Lee said during a speech at the National
Agricultural Cooperative Federation, known as Nonghyup.
"The existence
of a huge market just next to us cannot but be an enormous opportunity," he
said. "In China, high-income earners are increasing rapidly. In the case of our
quality agricultural products, exports have spiked to a level where supply
cannot meet demand."
Lee said South Korea is standing at a turning
point where it has to continue its economic success by using the agricultural
sector as a future growth engine of the country.
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