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South Korea looks to open trade with Mexico

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South Korean President Park Geun-hye delivers a speech during a ceremony to mark the anniversary of the 1919 independence movement against Japanese rule over the Korean peninsula, in Seoul March 1, 2016. REUTERS/Jung Yeon-Je/Pool

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 beings a three-day state visit.

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“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 both countries 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.

(Reporting by David Alire Garcia, editing by David Evans)