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German President Koehler in South Korea for state visit
Feb 7, 2010, 13:12 GMT
Seoul - German President Horst Koehler arrived Sunday in Seoul after completing a week-long visit to India for talks expected to focus on world trade and economic issues.
South Korea is this year's chairman of the Group of 20 (G20) major industrial and emerging countries, with Koehler on his arrival making a plea for open world markets.
He said that for such export-oriented countries like Germany and South Korea, open markets were vital.
'Protectionism does not help further,' said Koehler. 'Our two countries can make a constructive contribution to a new world order.'
Koehler, who previously had been chief of the International Monetary Fund, also noted that 'financial markets need effective rules and better supervision, nationally and internationally.'
The German president's official talks in Seoul begin on Monday. His visit to the South Korean capital ends on Wednesday.
Economically, South Korea is Germany's third most important trading partner in Asia after China and Japan, while Germany is South Korea's biggest trade partner in Europe.
Bilateral German-South Korean trade last year totalled 20 billion dollars, with the balance slightly in Germany's favour. More than 200 German firms are represented in South Korea.
Commenting on his preceding week-long visit to India, with stays in both New Delhi and Mumbai, Koehler praised the 'friendly' ties between the two countries and said both sides are keen on expanding their relations.
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