BEIJING, April 7: Chinese Premier Wen Jiabao has called for talks with South Korea on a free trade area to be fast-tracked ahead of his visit to Seoul next week, state press reported on Friday. China and South Korea should come up with a win-win FTA proposal at an early date so as to pave the way for the FTA, Xinhua news agency quoted Wen as telling South Korean journalists on Thursday.
Wen will be in South Korea on Tuesday and Wednesday for the first visit by a Chinese premier in eight years.
Trade between the two nations has increased 26-fold since the two countries forged diplomatic relations in 1992, reaching 130 billion dollars last year, according to Chinese figures, and Wen said he expected ties to deepen further.
As a result of economic globalization, China-South Korea trade ties have entered a new era, requiring us to expand cooperation, improve quality and cope with challenges together, Wen said.
South Korean Trade Minister Kim Hyun-Chong said Wednesday that his country would consider launching free trade talks with China after a joint study by Seoul and Beijing on costs and benefits is completed in December.
The US and South Korea on Monday reached a free trade agreement which scraps tariffs on thousands of items and will boost commerce by billions of dollars a year, wrapping up 10 months of tough negotiations.—AFP