China, ROK Agree to Boost Economic Cooperation

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Last updated at: (Beijing Time) Monday, May 13, 2002

China, ROK Agree to Boost Economic Cooperation

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China and the Republic of Korea ( ROK) agreed Monday that improving cooperation in macro-economic administration is vital and in a long run will benefit the development of bilateral economic and trade cooperation.

The consensus was reached at an economic minister-level meeting on economic cooperation between the two countries held in Beijing at Diaoyutai State Guest House. This is the third meeting of its kind.

At the meeting Zeng Peiyan, minister in charge of the State Development Planning Commission shared views with Jeon Yun-churl, deputy prime minister and finance and economy minister of the ROK.

The two sides reviewed the development of bilateral economic relations during the past decade, and exchanged views on issues of common concern, including the economic situation and policies of each country, and cooperation in finance, insurance and industrial fields.

The two sides agreed to hold their next economic minister-level meeting in Seoul next year. A memorandum was signed at the end of the meeting.

The State Development Planning Commission of China and the Ministry of Finance and Economy of the ROK have held eight meetings between ministers or deputy ministers since 1993, through which the two sides have solved various problems in bilateral economic cooperation, deepened mutual understanding and trust, and ensured the healthy development of bilateral economic cooperation.

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