Saudi, Greek ministers co-chair inaugural meeting of Strategic Culture Committee    Saudia Group signs deal with Airbus for flyadeal's first wide-body aircraft    Saudi non-oil exports surge 14.3 percent to SR26.11bn in February    Israeli strikes across Gaza kill at least 26, Palestinian officials say    Modi pledges to hunt Kashmir attackers 'to the ends of the Earth'    Trump's trade war olive branch met with derision and mistrust inside China    Ministry of Justice launches centralized court model to enhance judicial efficiency    Kyiv hit by deadly Russian missile and drone attack    Saudi Arabia elected chair of Asia region of World Meteorological Organization    Saudi Media Regulation Authority to take legal action against unregistered media practitioners    Musk to reduce Doge role after Tesla profits plunge    IMF lowers its growth forecast for Saudi economy to 3% in 2025    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Super Max Verstappen scorches to pole with record lap in Jeddah    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



China and South Korea agree to push trade talks
Published in Saudi Press Agency on 10 - 01 - 2012

Chinese Premier Wen Jiabao and South Korea's president agreed on Tuesday to step up free trade talks, following promises by China and Japan to push negotiations on a trade pact between all three countries, according to Reuters.
Wen told visiting President Lee Myung-bak that the countries must seize the moment to deepen East Asian economic integration.
"China and South Korea need to grasp the opportunity, closely communicate and coordinate, and initiate bilateral free trade agreement negotiations as soon as possible," Wen said.
He also said China and South Korea needed to begin talks with Japan this year "to promote the process of creating a free trade area between the three countries and the Association of Southeast Asian Nations (ASEAN)".
South Korea's Lee agreed. "Signing a bilateral free trade agreement and promoting East Asian cooperation suits the joint interests of both countries. South Korea is willing to diligently strive with China toward common goals," he told Wen on the second day of a three-day state trip to China.
Chinese media had said on Monday that closer economic ties brought by a possible free trade deal would help to narrow political distrust, as Beijing has faced growing wariness from neighbours over its military modernisation and strategic intentions.
In late December Japan and China agreed to start formal talks early this year on a free trade pact that would also include South Korea.
The resurgence of interest in the trade pacts follows Washington's push for a Trans-Pacific Partnership (TPP) trade agreement in November, which excludes China.
Japan had said at the Asia Pacific Economic Cooperation summit in Honolulu in November that it wanted to join in the talks over the U.S. proposal.
However, some people in China see the TPP as a political move by Washington to isolate Beijing on trade with Asia's biggest economies.
Still, trade talks between the major Asian economies have long been in the works, and South Korea and China have held a series of joint feasibility studies on a possible free trade deal since 2008.
Wen and Lee also held "candid and in-depth" discussions on the security situation in Northeast Asia, China's official Xinhua news agency said without elaborating.
Lee's office said in a statement after his meeting with Wen that the two "shared the view that denuclearisation of the Korean peninsula as well as peace and stability are of paramount importance and agreed to continue to closely consult and cooperate with each other".
Since North Korean leader Kim Jong-il's death last month, Beijing has called on regional powers to press ahead with efforts to restart aid-for-disarmament talks with Pyongyang.
South Korea had said talks to preserve stability on the peninsula would be a priority during the trip as the unpredictable North undergoes a delicate transition of power to Kim's largely unknown youngest son Kim Jong-un.


Clic here to read the story from its source.