Li has six-point plan for trade, co-op with ROK

Updated: 2011-10-27 22:44


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SEOUL - Visiting Chinese Vice-Premier Li Keqiang brought forward a six-point proposal for promoting trade and cultural cooperation with the Republic of Korea (ROK) here on Thursday.

Li made the proposal at a luncheon hosted by four major ROK economic bodies, including the Federation of Korean Industries.

As his first point, the Vice-Premier said the two nations needed to accelerate the construction of the China-ROK free trade zone and launch the negotiations on the issue as planned.

Secondly, China and ROK need to adopt measures such as a mechanism on strategic cooperation on green industries to strengthen cooperation in that and other emerging areas and promote the development of a circular economy and low-carbon industries, he said.

Thirdly, the two sides should explore new modes for investment and cooperation. China encourages ROK enterprises to expand their investment in China in areas such as high-end manufacturing industries and participate in China's Western Development Program and Revitalization of the Northeast Old Industrial Bases as well as its drive for the Rise of the Middle Region.

Fourthly, China and ROK need to advance financial cooperation and innovation in a bid to expand the bilateral currency swap scale from 180 billion yuan ($28 billion) to 360 billion yuan ($56 billion).

Fifthly, the two nations should boost bilateral and multilateral coordination and take full advantage of the intergovernmental and nongovernmental exchange mechanisms so any problems in economic and trade cooperation could be solved properly.

Finally, the two countries need to expand cultural and people-to-people exchanges. China would, as of next year, invite an extra 300 ROK youths to visit China and would dispatch 1,400 teachers of the Chinese language to South Korea by 2015, Li said.

The Chinese Vice-Premier said China would pursue a strategy of mutual benefit and expand the common interests with its trade partner.

China would also unswervingly follow a peaceful development path and strive to foster friendly and cooperative relations with neighboring countries in the spirit of building friendship and a partnership with them, Li said.

The Chinese side supports the denuclearization of the Korean Peninsula and the resumption of the Six-Party Talks and stands ready to work with the various parties concerned to make contributions to peace and stability on the peninsular as well as in the northeastern Asian region, he said.

Present at the luncheon were representatives from the four economic bodies, large ROK businesses and Chinese-funded institutions as well as members of the Chinese delegation.

Li is on a two-day official visit to the ROK. During his stay in Seoul, he has held separate talks with ROK President Lee Myung-bak and Prime Minister Kim Hwang-Sik.

Li returned home later Thursday.