Visiting Chinese Premier Wen Jiabao said in Seoul on Wednesday
that the all-around development of China-South Korea trade ties has
brought tangible benefits to both peoples.
"Economic and trade cooperation between China and South Korea is
an important part of bilateral ties, and to further such
cooperation is the common aspiration of both peoples," Wen said at
a luncheon with some entrepreneurs from the two countries.
Based on the principles of mutual respect, equality, mutual
trust, mutual benefit and win-win cooperation, China-South Korea
ties have witnessed all-round development and bilateral economic
and trade cooperation has deepened since the establishment of
diplomatic relations 15 years ago, Wen said.
The cooperation enjoys exceptional advantages and has huge
potential as the two countries have convenient transportation
systems and complementary economies, he said, adding that South
Korea has the advantage of technology and management experience
while China is rich in labor resources and has a huge market.
Bilateral trade has achieved rapid development in the past 15
years. The trade volume between the two countries reached US$134.3
billion last year, a 260-percent increase from the US$50 billion in
1992.
South Korea has set up more than 30,000 enterprises in China by
the end of 2006, with an accumulated investment of 35 billion
dollars. Meanwhile, more and more Chinese enterprises choose to
invest in South Korea.
Wen arrived here Tuesday morning for his first-ever visit as a
premier to South Korea. He will leave for Japan on Wednesday and is
scheduled to conclude his two-nation tour on Friday.
(Xinhua News Agency April 11, 2007)
