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S. Korea's trade chief calls for close communication channels with China

All News 14:00 August 03, 2022

SEOUL, Aug. 3 (Yonhap) -- South Korea's Trade Minister Ahn Duk-geun called Wednesday for the establishment of close communication channels with the Chinese government and civilian entities to boost bilateral trade and investment.

Ahn made the remarks during a meeting with experts in Seoul as South Korea is seeking to strengthen economic relations with China on the occasion of the 30th anniversary of establishing diplomatic ties, according to the Ministry of Trade, Industry and Energy.

"It is crucial to create environments where South Korean and Chinese companies continue trade and investment in a stable manner amid growing external uncertainties," Ahn said.

"For the goal, the two nations' trade authorities need to set up close communication channels involving civilian and state entities. It is also important to make the most of the bilateral free trade agreement for enhanced cooperation," he added.

China is South Korea's largest trade partner. In 2021, bilateral trade hit an all-time high of US$301.5 billion, up 24.8 percent from a year earlier. The comparable figure for 1992 was $6.3 billion, government data showed.

South Korea's Trade Minister Ahn Duk-geun (R) speaks with Chinese Ambassador to South Korea Xing Haiming (L) in Seoul on July 25, 2022, in this photo provided by Ahn's office. (PHOTO NOT FOR SALE) (Yonhap)


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