President Lee Myung-bak urged the regional economies in the Asia-Pacific rim to ramp up cooperation in dealing with the ongoing global economic by turning away from protectionism and make efforts to build a regional economic community.
The South Korean leader, currently attending the Asia-Pacific Economic Cooperation (APEC) forum in Singapore, also proposed that the leaders begin discussing a Free Trade Area of Asia-Pacific (FTAAP) as suggested in a joint study by South Korea, Australia and New Zealand, Yonhap said citing the presidential office of Cheong Wa Dae.
"President Lee explained the outcome of the joint study on the FTAAP that it will contribute to the development of APEC members and proposed that the leaders discuss the issue as a long-term objective," Cheong Wa Dae said in a press release.
Lee also pressed for an early conclusion of trade negotiations of the World Trade Organization, known as the Doha Development Agenda (DDA), stressing the "most effective" way to fight trade protectionism is to promote free trade, according to his spokeswoman Kim Eun-hye.
"The leaders have repeatedly agreed to conclude the negotiations at an early date and they did so at last year's APEC summit in Lima, but the agreement has not been followed up with concrete efforts," the president was quoted as saying.
At the APEC summit, Lee urged the leaders to freeze or roll back any new protectionist measures introduced since the economic crisis unfolded late last year, a key agreement of the G-20 forum.
Lee and other leaders will meet again on Sunday, before a joint statement will be issued, Yonhap said.