China, South Korea vow to intensify trade and investment ties
(RTTNews) - Aiming a target of annual bilateral trade worth $200 billion by 2010, China and South Korea vowed to intensify cooperation in trade and investment, inspection and quarantine, trade relief, and intellectual property rights.
Chinese President Hu Jintao and his South Korean counterpart Lee Myung-bak announced this during a joint press conference after their meeting in the Korean capital, Seoul.
Hu Jintao is on a two-day visit to South Korea, his second in almost three years.
The leaders issued a joint communiqué Monday, detailing frequent exchange of high-level diplomatic visits and contacts between the two countries.
Diplomatic bodies of the two countries will begin a series of advanced strategic dialogues on important issues concerning bilateral common interests, this year.
It has also been decided to strengthen exchanges and cooperation in the fields of defense, foreign policy and international situation, environment, information and communication, logistics, and energy on multiple levels.
Seoul and Beijing will accelerate studies on the possibility of setting up a free trade zone.
Officials from both the sides signed agreements for successfully hosting the 2010 Shanghai World Expo and the 2012 Yeosu World Expo.
The east-Asian nations have designated 2010 as Visit China Year and 2012 as Visit Korea Year.
It has also been agreed to implement the second phase action of the six-party talks on North Korea’s de-nuclearization.
Source:
RTT Staff Writer
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Tags: 2012 World Expo, CHINA, Expo Shanghai, Expo Yeosu, Expo2010, expo2012, South Korea