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Wen makes proposal on China-S Korea ties

(Xinhua)
Updated: 2010-05-29 19:55

SEOUL - Visiting Chinese Premier Wen Jiabao made a four-point proposal on Saturday on closer economic ties with South Korea in a meeting with South Korean Prime Minister Chung Un-chan.

The economies of China and South Korea are increasingly interdependent and closer to each other, and have a great potential for cooperation, Wen said.

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The Chinese premier suggested that the two countries speed up the work on establishing a China-South Korea free trade area in a gradual manner by seeking common ground while reserving differences.

The two countries should also explore new cooperative fields like energy conservation, environmental protection, high-tech and low-carbon economy, oppose trade and investment protectionism of all forms and properly handle trade frictions, said Wen.

The two countries should enhance coordination and communication within the framework of the Group of 20 and the ASEAN plus China, Japan and South Korea (10+3) so as to maintain financial stability and promote balanced and sustainable development of the world economy, said Wen.

"As the world is undergoing major changes and adjustments, China and South Korea, being neighbors and two countries of significant influence in the region, should deepen political trust and cooperation to benefit the two peoples and make bigger contribution to regional peace, stability and prosperity," said the Chinese premier.

Chung spoke highly of China's effective macroeconomic regulation amid the global financial crisis, saying that China's stable and rapid economic growth is conducive to South Korea, Asia and the world at large.

Chung said South Korea values strategic cooperative partnership with China, and is willing to work with China to increase contacts, push for establishment of a free trade area and facilitate trade and personnel exchanges.

Wen kicked off his visit to South Korea on Friday. He is also attending the third trilateral summit with South Korea and Japan over the weekend on South Korea's southern resort island of Jeju.

South Korea is the first leg of Wen's Asian tour, which will also take him to Japan, Mongolia and Myanmar.