The Meeting was attended by delegations from the ASEAN member countries and the ROK. The Secretary-General of the ASEAN Secretariat and his staff were also present.

H.E. Mr. Agus Tarmidzi, Director-General, ASEAN-Indonesia and H.E. Mr. Lee Ki Choo, Assistant Minister of the Ministry of Foreign Affairs, ROK jointly chaired the Meeting.

The Meeting recognized that the ASEAN countries and the ROK had made good use of the complementary and inter-dependent nature of their relationship, and believed that there would be great potential in ASEAN -ROK relationship developing into a new dimension.

The Meeting marked the formalization of the ASEAN -ROK Joint Sectoral Cooperation Committee, whose task is to facilitate ASEAN -ROK Sectoral Dialogue Relations in the areas of trade, investment and tourism with the possibility of expanding the relations to include other areas such as development cooperation, transfer of technology and human resources development.

The Meeting exchanged views on ways to further improve cooperation for their mutual benefit in the areas of trade, investment and tourism.

The Meeting approved various projects to be funded under the ROK's Special Cooperation Fund, including the ASEAN Week in Seoul, Phase I of the Korean Language Training Programme for Tour Guide, and Study Tour on GATT Customs Valuation Code . The project of the ASEAN Week in Seoul, would include an ASEAN Trade Fair, conferences on Trade and Investment,. Seminars on Tourism Promotion and Cultural and other events, that would further expose ASEAN to the ROK public.

The Meeting also agreed to fund the initial phase of a computer link project among the ASEAN National Secretariats and the ASEAN Secretariat from this Special Cooperation Fund.

For the successful implementation of the various projects approved by the ASEAN - ROK JSCC, the Meeting agreed to establish in Jakarta an ASEAN -ROK Joint Management Committee (ASEAN -ROK JMC) which will manage the Special Cooperation Fund.

The Meeting agreed on the participation of ASEAN -ROK private sectors in future JSCC Meetings so as to strengthen ASEAN - ROK economic cooperation. The Meeting welcomed the formation of the ASEAN-Korea Business Council to facilitate and enhance cooperation between ASEAN and ROK.

It was agreed that the Second Meeting of the ASEAN-ROK Joint Sectoral Cooperation Committee be held in Seoul in 1991 at a date to be mutually agreed upon.

The Meeting was held in a spirit of cooperation and cordiality. The ASEAN and ROK delegations expressed their deep appreciation for the warm hospitality and the excellent arrangements accorded by the Government and People of Indonesia.