Outcome of 8th FEALAC Foreign Ministers’
Meeting(8.31)
mofa.go.kr/eng/brd/m_5475/view.do
Date
2017-09-08 11:22:00
1. The eighth Foreign Ministers’ Meeting of the Forum for East Asia-Latin America
Cooperation (FEALAC) took place at the APEC House in Busan on August 31, chaired by
Foreign Minister Kang Kyung-wha. At the event, the 36 member states of FEALAC
adopted the “Busan Declaration” and agreed to establish the FEALAC Fund and on the
“New FEALAC Action Plan.”
° In the Busan Declaration, the FEALAC member states acknowledged that FEALAC,
which represents 38% of the global economy and 33% of the global trade, has an
enormous potential for growth as a major multilateral cooperative mechanism, and
agreed to step up cooperation on such key global issues as those concerning world
economy, trade, development, environment, peace on the Korean Peninsula and
international security.
° In addition, as ways to develop FEALAC, the member states agreed to promote the
effectiveness of cooperation projects conducted by its four Working Groups; to hold
business forums on a regular basis; to increase the functions of the Republic of Korea-run
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