BRUSSELS, Nov 8: EU leaders and South Korean President Park Geun-Hye agreed at summit talks on Friday to give fresh impetus to a ground-breaking trade agreement as a way out of the economic doldrums.

“Europe’s prosperity is linked to that of others such as Korea’s,” European Union president Herman Van Rompuy said at the close of an EU-Korea summit marking 50 years of diplomatic ties.

“The answer is not protectionism but an increased opening of markets.”The two sides anchored their relationship in 2011 with a ground-breaking free trade deal, the first of its kind between the 28-nation bloc of 500

million people and an Asian partner.

The deal has given European Union exports a 24 percent boost and two years on, the EU is now the largest foreign investor in South Korea, said European Commission president Jose Manuel Barroso.

But Park admitted there was “still room for improvement”, and asked to comment on complaints from EU carmakers of continued barriers said: “We should try to eradicate discrimination at home or abroad.”—AFP