'Korea-China Economic Joint Committee' to be held in Qingdao, China on the 1st of next month... Discussions to strengthen economic cooperation post-COVID-19

Discussion on Resolving Corporate Difficulties and Cooperation Measures on Bilateral Issues and Multilateral Levels Including WTO

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] The Korea-China Economic Joint Committee, a comprehensive economic cooperation dialogue between South Korea and China, is scheduled to be held on the 1st of next month in Qingdao, China, with Lee Seong-ho, Director-General for Economic Diplomacy Coordination at the Ministry of Foreign Affairs, and Li Chenggang, Deputy Director-General of the Ministry of Commerce of China, serving as chief representatives, the Ministry of Foreign Affairs announced on the 30th.

The Korea-China Economic Joint Committee has been regularly held alternately in both countries since 1993. The 24th meeting will follow the 23rd meeting, which was held in Seoul last June.

At this Economic Joint Committee, both sides plan to evaluate global economic trends and the current status of bilateral economic cooperation, and discuss directions for the development of trade and investment between the two countries as well as ways to strengthen cooperation in regional and multilateral forums.

They will also assess the achievements of bilateral quarantine and economic cooperation in response to the novel coronavirus disease (COVID-19), including the Korea-China fast track, and exchange views on the direction of economic cooperation after COVID-19.

Additionally, both sides will discuss bilateral issues such as resolving corporate difficulties and cooperation measures at the multilateral level, including the World Trade Organization (WTO).

An official from the Ministry of Foreign Affairs explained, "This Economic Joint Committee, marking the first face-to-face diplomacy between Korea and China after COVID-19, is expected to serve as an opportunity to explore mid- to long-term directions for economic cooperation in the post-COVID era, while also solidly preparing for future high-level visits and achievements in the economic sector."

Meanwhile, both sides plan to review the progress of preparations for drafting the "Korea-China Economic Cooperation Joint Plan (2021?2025)" containing a vision for cooperation over the next five years and discuss ways to expand Korea-China exchange and cooperation.

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