| MEDIA RELEASE
THE DEPUTY PRIME MINISTER AND MINISTER FOR TRADE |  |
MEDIA RELEASE
FISCHER TO VISIT REPUBLIC OF KOREA
The Deputy Prime Minister and Minister for Trade, Tim Fischer, will undertake an important four-day visit to the Republic of Korea from November 12 to 15.
Mr Fischer said the visit to Australia's second-largest export market provided an opportunity to explore possible areas for expanding the trading relationship, which was already growing rapidly.
"Exports to the ROK grew 26pc to $6.6 billion last year," Mr Fischer said.
He will be accompanied on the visit by Chairman of the Australian Tourism Commission, Bruce Baird, and the General Manager (Asia) ANZ Bank, Peter Meers, who will assist in promoting Australia as a destination for Korean direct investment in areas such as mining, resource processing, and tourism.
They will meet senior management of some major Korean business conglomerates, including Hyundai, POSCO, Lucky Goldstar and the Halla Group, to encourage their participation in possible joint ventures with Australia.
The visit will include meetings in Pusan, Korea's second-largest city and its largest port.
Mr Fischer said his visit was given added importance because was taking place in the crucial lead-up period to the APEC Leaders and Ministerial meeting in Manila later this month, and the WTO Ministerial Meeting in December.
"Australia and the ROK have co-operated closely in APEC and the WTO and I will use this opportunity to encourage the ROK to continue on its path of domestic economic liberalisation," he said.
"I will also be raising matters of importance to our exporters in trying to get access to certain Korean markets, particularly for agricultural products," Mr Fischer said.
11 November, 1996