President Lee Myung-bak embarks on an eight-day tour of Turkey and three oil-rich Middle East countries on Saturday. The trip is a bid to cement ties with the countries amid uncertainties in the global energy market caused by U.S.-led sanctions against Iran.
During summit talks with the leaders of Saudi Arabia, the United Arab Emirates and Qatar, Lee is expected to discuss issues concerning Iran’s controversial nuclear development and oil embargos on the country.
“What the three nations have in common is that they are under threat from Iran’s nuclear development. They are very concerned about it as we are about North Korea’s nuclear ambitions,” a Cheong Wa Dae official said on condition of anonymity.
“As we are participating in sanctions against Iran, discussion is expected on how to diversify our line of overseas oil imports.”
Lee will first visit Turkey, with which South Korea has maintained strong ties forged in blood during the 1950-53 Korean War. He is to pay a reciprocal visit after President Abdullah Gul came to Seoul for a state visit in June 2010.
During their summit talks slated for Monday, Lee and Gul will discuss South Korean businesses’ participation in massive infrastructure projects there and ways to further enhance bilateral economic and diplomatic relations.
Talks on a bilateral free trade agreement and efforts to expand two-way trade and investment are also expected. Lee will also meet other Turkish leaders including Prime Minister Recep Tayyip Erdogan.
“His visit to Turkey this time will be a good opportunity to elevate the bilateral relationship to a strategic partnership,” a senior Cheong Wa Dae official said on condition of anonymity.
The second leg of the tour is Saudi Arabia, from which a third of South Korea’s oil imports come.
Lee’s visit was arranged at the invitation of King Abdullah bin Adbul Aziz Al Saud as the two countries mark the 50th anniversary of diplomatic relations. There, he will attend the opening ceremony of the Janadria Festival, the country’s biggest cultural event, on Wednesday.
During the summit talks, the two leaders are to discuss ways to fend off the possible fallout from Seoul’s reduction in oil imports from Tehran.
Also possible on the agenda is how to expand bilateral cooperation in the defense and construction industries. South Korea has thus far won construction projects worth more than $100 billion from Saudi Arabia.
The third leg of the trip is Qatar, which is the biggest exporter of liquefied natural gas for South Korea.
On Thursday, Lee will hold summit talks with Qatari King Sheikh Hamad bin Khalifa Al Thani to discuss bilateral cooperation in various areas such as energy, construction, trade and health care.
On Friday, Lee will visit the UAE and hold talks with Crown Prince Sheikh Mohammed bin Zayed Al Nahyan over bilateral issues including Seoul’s participation in the development of nuclear reactors in the country.
In December 2009, Korea Electric Power Corp. and Emirates Nuclear Energy Corp. signed a $20 billion deal to build four nuclear reactors by 2020.
By Song Sang-ho (
sshluck@heraldcorp.com)
