On May 29, 2010, visiting Chinese Premier Wen Jiabao held a discussion with South Korean businessmen in Seoul, exchanging views with them on enhancing China-ROK economic and trade cooperation.

Wen said that bilateral economic and trade cooperation has been developing rapidly and has become an important impetus for bilateral ties since the establishment of diplomatic ties 18 years ago. The ROK economic and business circles have become a bond linking the friendship and cooperation between both countries. In face of the global financial crisis, the two nations have adopted effective counter-measures, which have not only achieved national economic revival but also contributed to the global economic recovery, he said. However, there are still many uncertain and unstable factors affecting the world economy, Wen said, stressing that the anti-crisis efforts could not be relaxed now. He said that China and South Korea should keep the continuity and stability of their respective economic policies. As two major economies in Asia, China and South Korea need to maintain the strength of the measures they adopted to deal with the financial crisis, Wen said. At the same time, they should continue to forward the spirit of staying in the same boat to overcome difficulties, complement each other’s advantages and push bilateral economic and trade cooperation to a new level. Based upon the principle of seeking common ground while shelving differences, efforts should also be made in a gradual manner to promote the process of setting up a China-South Korea free trade area (FTA), said the premier. As both China and South Korea are engaged in transformation of economic development pattern and economic restructuring, they should seize the new opportunity and take high and new technology, energy conservation and environmental protection as well as low-carbon and green economy as the new priorities for bilateral cooperation, Wen said. He also noted South Korean enterprises are welcome to expand their investments in China, adding that China will see them as equals to Chinese enterprises and grant them national treatment as long as they abide by relevant laws. The Chinese government encourages small- and medium-sized enterprises of the two countries to strengthen cooperation and will try to create favorable environment and conditions for them, Wen added, expressing hope that the ROK economic and business circles will make new contributions to friendly cooperation between the two countries.