April 3, 2016 / 3:21 PM / 3 years ago

South Korea seeks new bilateral trade deal with Mexico

Mexico's President Enrique Pena Nieto applauds next to South Korean President Park Geun-Hye during a welcome ceremony at the National Palace in Mexico City, April 4, 2016. REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - South Korea is looking to sign a new bilateral trade deal with Mexico, the country’s top commercial partner in Latin America, President Park Geun-hye said in an interview with newspaper El Universal on Sunday as she began a three-day state visit.

“My expectation is to complete a free trade agreement between our two nations that will open a new door to the markets of northeast Asia for Mexico and provide better access to markets in Latin America and North America for Korea,” said Park.

Although Mexico signed the 12-nation Trans-Pacific Partnership (TPP) trade pact in February, Park said a new deal with Mexico makes sense because TPP will still take time to implement.

(This version of the story corrects to make clear South Korea not a signatory to TPP; fixes typo in first paragraph began, not beings)

Reporting by David Alire Garcia; Editing by David Evans and Bill Trott

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