SKorea, Thailand to expand trade

SEOUL, March 25 (TNA) - Visiting Prime Minister Yingluck Shinawatra and South Korean President Lee Myung-bak have agreed to increase trade value between the two countries to 30 billion U.S. dollars within five years between 2012-2016 while the former also invited more South Korean businessmen to invest in the kingdom. Yingluck arrived in Seoul Saturday to pay a four-day official visit to South Korea and to attend the 2012 Nuclear Security Summit. During the talks held yesterday, Yingluck proposed that the Thai-South Korean trade cooperation committee be revived to help the five-year trade met target and urged South Korea to import more Thai agricultural products and frozen chicken. She also asked South Korean investors to invest in automobile, electronics, machinery, alternative energy, ship transportation, movie and infrastructure such as high-speed train. The South Korean president proposed to set up a cultural centre and a study centre in Thailand within this year. Both sides also agreed to cooperate on conducting a survey and development of atomic energy for peace, aimed at strengthening countries in the region. Yingluck also invited Lee to attend the World Economic Forum on East Asia which will be hosted by Thailand between May 30 and June 1. Both government leaders then witnessed the signing of a memorandum of understanding on military cooperation between the two countries before Lee hosted a dinner to honour the Thai prime minister. (TNA)