China, South Korea to push forward 2nd phase FTA talks
Global Times
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Chinese State Councilor and Foreign Minister Wang Yi (File photo: Xinhua)

China's State Councilor and Foreign Minister Wang Yi on Thursday called on China and South Korea to push forward linking of the Belt and Road Initiative (BRI) with South Korea's development strategies, and also to reach an agreement on the second phase of China-South Korea Free Trade Agreement (FTA).

Wang held talks with his South Korean counterpart Kang Kyung-wha in Seoul on Thursday during his visit to the country.

He said the two countries should accelerate the "docking" of the BRI with South Korea's development strategies in order to promote cooperation in third party economies, strengthen cooperation in key sectors including emerging industries and deepen high-quality integrated development between the two countries.

Wang urged the two countries to reach an agreement on the second phase of China-South Korea FTA, and establish a development plan addressing 2021-2025 China-South Korea economic and trade cooperation as soon as possible as a means to build better conditions for closer bilateral economic partnership.

During the talks, Wang said that the two sides should step up multilateral coordination and cooperation, promote the Regional Comprehensive Economic Partnership and accelerate the establishment of China-Japan-South Korea free trade zone.

Kang said that South Korea-China strategic partnership had maintained positive momentum over recent years, while the two countries' cooperation in combating the COVID-19 outbreak set an international example.

She said that South Korean will actively promote the deepening of ties, and make efforts to conclude the China-South Korea economic and trade cooperation plan and agreement of the framework for an advanced second phase of South Korea-China-Japan FTA as soon as possible.