Canada, South Korea Launching High-Level Economic Security Dialogue - Statement

TORONTO (Sputnik) - Canada and South Korea are launching a high-level economic security dialogue in an attempt to address areas such as critical mineral supply chains and clean energy development, Canadian Prime Minister Justin Trudeau and South Korean President Yoon Suk Yeol said on Friday.

“Today, we agreed to work towards launching a high-level dialogue on economic security involving the Ministries of Foreign Affairs and Industry,” Trudeau and Yoon said in a joint statement.

Canada and South Korea will bolster cooperation and coordination on supply chain resilience, including critical mineral and battery supply chains, the statement said.

The two officials also agreed to strengthen the bilateral Joint Committee on Science, Technology and Innovation, the statement added.

Canada and South Korea will announce in the coming months an agreement to build value chains in their countries that enable clean energy transition and energy security, according to the statement.

Yoon’s visit to Canada for talks with Trudeau was his first bilateral trip since assuming office in March. The two officials also discussed Indo-Pacific regional strategy amid increasing tensions across the Taiwan strait.

“We have spoken at great length today about the fact that both of us are developing renewed Indo-Pacific strategies and we’ve committed to continuing to work together closely,” Trudeau said during a joint press conference with Yoon. “China is certainly a real challenging actor in the region.”

China must be worked with on areas of mutual interest such as climate change but challenged on areas such as respect for the so-called “rules-based international order” promoted by Canada, the United States and other aligned states, Trudeau said.

Trudeau also highlighted and praised the historical and cultural ties between Canada and South Korea, and praised the notable Korean community in Canada.