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Chinese Premier Wen Jiabao on Thursday said he expected China and South Korea to accelerate progress towards a bilateral Free Trade Area (FTA).

 

"China and South Korea should come up with a mutually beneficial FTA proposal at an early date and thus lead the way towards the FTA," Wen said on Thursday, during an interview with journalists from 19 South Korean news organizations.

 

The interview came ahead of Wen's South Korea trip on April 10 and 11, the first such visit by a Chinese premier in eight years.

 

Addressing trade relations, Wen spoke of China's appreciation of South Korea's recognition of it as a full market economy.

 

Since diplomatic ties were established in 1992, the trade volume between the two neighbors has vaulted by 26 times to stand at US$130 billion in 2006.

 

"The close trade ties enjoyed by China and South Korea show our faith in the principles of equality and mutual benefit," Wen said.

 

Wen reminded the press of a trade target of US$200 billion by 2012, set by Chinese President Hu Jintao and South Korean counterpart Roh Moon-hyun during meetings in 2005 and 2006. 

 

This trade target formed part of five investment and trade liberalization measures and 12 key areas of cooperation, as defined by the two leaders.

 

"As a result of economic globalization, China-South Korea trade ties have entered a new era, and we must face this era in a renewed spirit of cooperation," Wen said.

 

Wen urged that the areas of energy preservation, environmental protection, high-tech and information industry be targeted for closer collaboration.

 

Turning to international platforms, Wen also laid out the benefits of increasing consultations through the World Trade Organization, the Asia-Pacific Economic Cooperation forum and other international mechanisms.

 

Wen's two-day visit will coincide with the China-South Korea Exchange Year, which will include 47 exchange programs initiated by the Chinese side.

 

During his stay in Seoul, Wen will launch the exchange year with South Korean leaders.

 

Commenting on the six-party talks aimed at resolving the Korean Peninsula nuclear issue, Wen reiterated that all parties would need to consult further to push for a peace mechanism.

 

As for reunification of the Korean Peninsula, Wen said this issue was for the ROK and DPRK to decide "independently and peacefully," adding that mutual trust should develop between the two countries to help improve ties. 

 

Wen will visit South Korea at the invitation of South Korean President Roh Moo-hyun.

 

(Xinhua News Agency April 6, 2007)