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ROK, China Enjoy Great Potentials for Cooperation
The Republic of Korea (ROK) and China have the potential to enjoy tremendous benefits from their cooperation in areas like science and technology, communication, trade and investment, environmental protection, traffic and marine production.
Visiting ROK Prime Minister Lee Han-Dong said this at a luncheon hosted for him by the China Council for the Promotion of International Trade (CCPIT).
Political, economic, social and cultural contacts have strengthened between the two countries since they forged diplomatic relations in 1992, said Lee, adding it is particularly so in trade and investment.
The two nation's trade volume surpassed 30 billion U.S. dollars last year, which has rendered them the No. 3 trade partners for each other, Lee said.
Besides, China has become the No. 2 country to which ROK's investment flows, Lee added.
Addressing the luncheon, CCPIT President Yu Xiaosong said the two countries are enjoying the rapid development of trade relations, with ROK's investment in China already exceeding 20 billion U.S. dollars in 2000.
In addition, since both countries are facing the problem of economic restructuring, economic exchanges between the two will be beneficiary not only for trade and investment, but also for their meeting the challenge of economic globalization, said Yu.
He believed that with the support from both governments, the prospects of the two nations' economic and trade cooperation will be even brighter.
Prior to the luncheon, Lee and Yu held talks.
Earlier today, Lee also attended and addressed a seminar on mobile telecommunication with entrepreneurs from ROK and China present.
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