It is recommended that:

(i) Australia
and Korea enter into an umbrella agreement designed to strengthen the economic
partnership between Australia and Korea (e.g. a Trade and Investment
Facilitation Agreement - TIFA). It should provide the framework for the
recommendations set out below.

(ii) Australia
and Korea foster greater interest in each other's technology sectors: Australia
as a source and a place to develop technologies and Korea as a source of
funding and a partner in the development of successful technologies.

(iii) Support
be given to the development of closer linkages between Australia and Korea
throughout the industrial/commercial chain in various technology segments (e.g.
information and communications technology, biotechnology, photonics,
environmental technology). This should initially involve workshops and possibly
lead to the establishment of Australian/Korean clusters in particular
technology segments.

(iv) A
bilateral arrangement be made on the implementation of intellectual property
protection. This could include a Code of Practice and possibly a joint forum
that would consider tangible issues raised by Australian and Korean firms about
infringements of their intellectual property rights.

(v) Australia
and Korea work on a sector-by-sector basis towards adopting common systems for
obtaining approvals/certificates that goods from each country comply with the
standards and regulations applying in the other country.

(vi) The
Australian Government, in partnership with Australian private sector groups,
continue to promote the capabilities and relevance of Australian businesses and
the relevance of Australia's financial and advisory sectors to assist in the
modernisation and reform of Korea's infrastructure and utilities. Such
promotion should build on innovative partnerships between private sector and
public sector entities, with improved customer focus, along lines pioneered in
the new Australian infrastructure sector.

(vii) There
be increased support for road-shows, seminars and workshops presenting the
Australian approach to reform of these sectors such as rail, roads, water,
energy and communications infrastructure. The congestion in urban Korea creates
a major opportunity for communication of how new project finance models can
address both the problems and the need for improved quality of investment and
governance in the infrastructure sector in Korea.

(viii) A
coordinated, long-term strategy be adopted involving the Australian Government
and educational institutions to capture the attention of Korean Government and
educational decision makers as to the quality and relevance of the Australian
education and training system and products to the human resources development
needs of Korea.

(ix) A
Government to Government cooperative agreement be reached whereby Australia
agrees to provide advice to Korean authorities and institutions on developing
Korea's new human resources development system and introducing Australian
institutions that can provide the particular systems and courses that meet
Korea's needs.

(x) The
use of scholarships and work placements be introduced for Korean postgraduate
students in Australia as a longer term means to raise the general profile of
Australian education and training among younger Koreans and to build a
counterweight to the usual attraction of postgraduate students to the USA.

(xi) The
building of Australian alumni groups in Korea be supported.

(xii) The
media be utilised more extensively to increase the profile of Australia and
Korea in each other's country, including through the exchange of industry
specific media specialists who could highlight "success stories" of
complementary initiatives. In addition, consideration be given to the
implementation of the recommendations of the inaugural Australia-Korea Media
Forum held in Sydney on 17 August 1999.

< Conclusions

Appendix A: Useful Korean Government
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