The Chinese Premier Wen Jiabao, who was paying an official visit to South Korea, participated into a luncheon organized by the business communities of both China and South Korea and delivered a speech on Sino-South Korean relations and economic and trade cooperation on 11 April. Wen Jiabao stressed that, after the establishment of diplomatic ties between South Korea and China 15 years ago, the bilateral trade, which has been guided by the principles of cooperation on the basis of mutual respect and trust for reciprocal benefit, has developed very fast, the work on high-tech and IPR protection has been further strengthened, which has brought concrete profits to both peoples.

With regard to the further enhancement of cooperation on science and technology, Wen Jiabao pointed out that during the process of industrialization, South Korea has built up advanced technology with its own intellectual property rights through import, digestion, absorption and creation. China is willing to learn from and borrow the advanced experiences of South Korea and carry out technological exchanges with it in the fields of environmental protection, energy saving, telecommunication, logistics, hi-tech, IPR protection and etc., which will promote the sustainable development of both economies.

Wen Jiabao said that with regard to the promotion of two-way investment, both countries, with concerted efforts, should try to eliminate all kinds of barriers, which will leave negative impact on company investment and accelerate the process of investment facilitation. China hopes that all the South Korean companies coming to invest in China may shift from general manufacturing to agriculture, hi-tech industry and service sector and extend its commercial presence from the manufacturing of processing and assembly to R&D and design. Chinese government welcomes South Korean companies participating in the construction of infrastructure and eco-environment in western China, the revitalization of the old industrial bases in Northeast China and the restructuring of Chinese state owned enterprises. The Chinese government will encourage and support capable and credible companies to invest in South Korea.

Wen Jiabao said, finally, that the joint research on the establishment of free trade area (FTA) between South Korea and China will be promoted. The establishment of FTA between the two countries is of crucial importance for the bilateral economic and trade ties in a long term. So far the unofficial joint research on Sino-South Korean FTA has completed and the comprehensive research with the participation of governments, industries and academia has started and got preliminary results. The two sides are expected to work harder to put forward a proposal which is mutually beneficiary and will lay a solid foundation for the final establishment of the FTA.

 

2007-04-23

2007-04-23