1. The nineteenth meeting of the ROK-China Joint Economic Committee will take place at the Foreign Ministry in Seoul on November 20, with Second Vice Foreign Minister Cho Tae-yul and Vice Minister of the Chinese Ministry of Commerce Gao Yan as heads of their respective delegations.

o The upcoming meeting will bring together officials from the Ministry of Foreign Affairs, the Ministry of Strategy and Finance, the Ministry of Trade, Industry and Energy, the Ministry of Agriculture, Food and Rural Affairs, the Financial Services Commission, the Korea Communications Commission and the ROK Embassy in China, as well as officials from the Chinese Ministry of Commerce and the municipal authorities in Shandong.

2. In the meeting, the two sides will examine the current state of the global economy and the latest economic developments in the ROK and China, and review bilateral economic issues and the implementation of economic measures proposed in the “ROK-China Joint Statement for Future Vision,” which the ROK and Chinese heads of state adopted during President Park Geun-hye’s state visit to China in June. They will also hold intensive discussions on new ways to enhance economic cooperation.

o The ROK side will request the Chinese side’s cooperation for the conclusion of the first stage of ROK-China FTA negotiations and smooth progress in the second stage of the negotiations, which the ROK and Chinese Presidents agreed to work on during their summit. The ROK side will also review the current state of bilateral cooperation in a range of areas, including economy, trade, customs, science, technology, information and communications and environment, and explore ways to contribute to peace and stability in Northeast Asia through economic cooperation between the ROK and China.

o In addition, the ROK side will ask for the Chinese Commerce Ministry’s support and cooperation on substantive issues facing Korean companies and people, including simplifying visa procedures for workers dispatched to China and work visa procedures, difficulties faced by Korean financial companies operating in China, and kimchi exports to China.

3. Amid China’s ongoing economic reforms and the recent changes in economic relations between the two countries, such as the start of the eighth round of ROK-China FTA negotiations (the first in the second stage), the forthcoming meeting is expected to help further strengthen strategic communication between the two countries in economic issues by providing an opportunity to hold extensive discussions on the future direction of the ROK-China economic cooperation and ways to contribute to regional cooperation in Northeast Asia.

o The ROK-China Joint Economic Committee is a vice ministerial consultative mechanism on economic issues. It has been held in the two countries alternately every year since 1993 right after the establishment of diplomatic relations. It has helped promote economic cooperation between the ROK and China over the past 20-odd years.


              Spokesperson and Deputy Minister for Public Relations of MOFA

*unofficial translation