South Korea and Central America agree to encourage economic trade

South Korea and a group of eight Central American nations agreed on Tuesday to boost economic trade between their countries during the Central American Integration System (SICA) summit held in Panama City.Panama's President Ricardo Martinelli said emphasis should be placed on free trade to boost the economies of Central American nations. South Korea's President Lee Myung-Bak who was present at the meeting said South Korean companies would help Central American nations expand investment in fields such as energy, infrastructure, mineral resources and IT. Lee also promised to share South Korea's experience in economic growth and said he hoped South Korea could join SICA as an observer to strengthen bilateral relations. SICA includes Belize, Costa Rica, Guatemala, El Salvador, Honduras, Nicaragua, Panama and the Dominican Republic. The last summit with South Korea was held in 2005.