The Ministry of Trade, Industry and Energy announced on the 27th that Jung In-kyo, the head of the Trade Negotiation Headquarters at the Ministry, held the Korea-China Trade Ministerial Meeting in Beijing with Wang Shouwen, China's Minister-level International Trade Negotiation Representative of the Ministry of Commerce.
This meeting was held to discuss the implementation measures of the Korea-China Free Trade Agreement (FTA) follow-up negotiations, stable supply chain management, resumption of the Investment Cooperation Committee, and other issues that were discussed between Korea and China during the Korea-Japan-China Summit held in Seoul.
Both sides agreed to hold official follow-up negotiations on services and investment under the Korea-China FTA within the year, and to advance related discussions by holding the 6th FTA Joint Committee at the ministerial level in Seoul.
Additionally, they discussed Korea-China supply chain cooperation measures, including the operation of the supply chain hotline, export control dialogue channels, and communication channels established between Korea’s Ministry of Trade, Industry and Energy and China’s Ministry of Commerce.
To create a stable and predictable business environment for investors from both countries, it was also decided to hold the 8th Korea-China Investment Cooperation Committee in Beijing in the future, chaired by the Korean Minister of Trade, Industry and Energy and the Chinese Minister of Commerce.
Furthermore, they exchanged views on multilateral trade issues such as the World Trade Organization (WTO), Asia-Pacific Economic Cooperation (APEC), Regional Comprehensive Economic Partnership (RCEP), Digital Economy Partnership Agreement (DEPA), and the Korea-China-Japan FTA, agreeing to continue bilateral and multilateral cooperation and communication going forward.
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