China says 'conclusion' of free trade talks with S. Korea

[cirr]

China says 'conclusion' of free trade talks with S. Korea

2014/11/10 11:17

BEIJING, Nov. 11 (Yonhap) -- South Korean President Park Geun-hye and Chinese President Xi Jinping held "substantive negotiations" on Monday and jointly announced the "conclusion" of free trade talks between the two nations, China's commerce ministry said.

The one-sentence announcement by the Chinese ministry came shortly after a South Korean official said the two nations "virtually" reached a landmark free trade agreement.

"Xi Jinping and Korean President Park Geun-hye held substantive negotiations and jointly announced the conclusion of the free trade talks," the Chinese ministry said in a statement.

Park and Xi plan to observe the signing of a free trade deal after their summit Monday in Beijing, the South Korean official said on the condition of anonymity.

South Korea and China started their formal free trade negotiations in May 2012, and Park and Xi agreed to work together to achieve an agreement by the end of the year during their summit in early July.

kdh@yna.co.kr

(END)

 

[TaiShang]

China says 'conclusion' of free trade talks with S. Korea

2014/11/10 11:17

BEIJING, Nov. 11 (Yonhap) -- South Korean President Park Geun-hye and Chinese President Xi Jinping held "substantive negotiations" on Monday and jointly announced the "conclusion" of free trade talks between the two nations, China's commerce ministry said.

The one-sentence announcement by the Chinese ministry came shortly after a South Korean official said the two nations "virtually" reached a landmark free trade agreement.

"Xi Jinping and Korean President Park Geun-hye held substantive negotiations and jointly announced the conclusion of the free trade talks," the Chinese ministry said in a statement.

Park and Xi plan to observe the signing of a free trade deal after their summit Monday in Beijing, the South Korean official said on the condition of anonymity.

South Korea and China started their formal free trade negotiations in May 2012, and Park and Xi agreed to work together to achieve an agreement by the end of the year during their summit in early July.

kdh@yna.co.kr

(END)

This is indeed something to celebrate.

Now more heat on Japan.

 

[cirr]

Key dates in S. Korea, China FTA negotiations

Published : 2014-11-10 11:01
Updated : 2014-11-10 11:05

The following is a chronology of events leading to the conclusion of negotiations between South Korea and China for a bilateral free trade agreement (FTA) that was announced Monday.

2004

Sept. 5 -- Trade ministers of South Korea and China agree to launch a joint study on the FTA while meeting on the sidelines of the ASEAN Plus Three ministerial talks.

2006

November -- The joint feasibility study on the Korea-China FTA ends.

Nov. 17 -- Trade ministers of South Korea and China agree to launch a new joint feasibility study involving the countries' private and public sectors in 2007.

2007

Mar. 22-23 -- The first meeting of the joint study on the Korea-China FTA is held in Beijing.

July 3-4 -- The second meeting of the joint study on the Korea-China FTA is held in Seoul.

Oct. 23-25 -- The third meeting of the joint study on the Korea-China FTA is held in China's Weihai.

2008

Feb. 18-20 -- The fourth meeting of the joint study on the Korea-China FTA is held in South Korea's Jeju island.

June 11-13 -- The fifth meeting of the joint study on the Korea-China FTA is held in Beijing.

2010

February -- A meeting between the countries' chief delegates in the joint study on the Korea-China FTA is held in Beijing.

May 28 -- A memorandum of understanding on the conclusion of the joint study on the Korea-China FTA is signed.

Sept. 28-29 -- The first preliminary meeting on the Korea-China FTA, involving officials from the countries' governments, is held in Beijing.

2011

April 11 -- Trade ministers of South Korea and China hold talks in Beijing.

2012

Feb. 24 -- The first public hearing on the Korea-China FTA is held.

Mar. 1-2 -- Working-level talks on the launch of Korea-China FTA negotiations are held in Seoul.

Mar. 22-23 -- Working-level talks on the launch of Korea-China FTA negotiations are held in Beijing.

May 14 -- South Korea and China hold their first round of FTA negotiations in Beijing.

July 3-5 -- The second round of Korea-China FTA negotiations is held in Jeju.

Aug. 22-24 -- The third round of Korea-China FTA negotiations is held in Weihai.

Oct. 20-Nov. 1 -- The fourth round of Korea-China FTA talks is held in South Korea's Gyeongju.

2013

April 26-28 -- South Korea and China hold the fifth round of FTA talks in China's Harbin, the first of its kind since the countries' new administrations came into office. The countries reaffirm their resolution to sign a bilateral FTA.

July 2-4 -- The sixth round of Korea-China FTA negotiations is held in Busan.

Sept. 3-5 -- South Korea and China hold their seventh round of FTA negotiations in China's Weifang, declaring the conclusion of what they called the first stage of a two-stage FTA talks. Under an agreement reached at the end of the first-stage negotiations, the countries agreed to liberalize their respective markets to 90 percent of all products, in terms of the number of items, and 85 percent of all products, in terms of value, traded between the countries.

Nov. 18-22 -- The eighth round of Korea-China FTA negotiations is held in South Korea's Incheon.

2014

Jan. 6-10 -- South Korea and China hold the ninth round of FTA talks in China's Xian.

Mar. 17-21 -- The 10th round of FTA negotiations between South Korea and China is held in South Korea's Goyang.

May 26-30 -- The 11th round of Korea-China FTA talks is held in China's Sichuan.

July 3 -- South Korean and Chinese leaders call for efforts to conclude their countries' FTA negotiations before the end of the year in a summit held in Seoul.

July 14-18 -- The 12th round of Korea-China FTA negotiations is held in South Korea's Daegu.

Sept. 22-26 -- South Korea and China hold the 13th round of FTA talks in Beijing.

Nov. 6-10 -- South Korea and China hold the 14th round of FTA negotiations in Beijing.

Nov. 10 -- South Korean President Park Geun-hye and her Chinese counterpart Xi Jinping declare the conclusion of their countries' FTA negotiations in a bilateral summit held on the sidelines of the Asia-Pacific Economic Cooperation forum in Beijing. (Yonhap)

 

[TaiShang]

China, ROK conclude FTA substantive negotiations


China and the Republic of Korea (ROK) have concluded substantive negotiations on a bilateral free trade agreement (FTA), the two heads of state announced in Beijing Monday.

China and the ROK officially launched FTA talks in May 2012. Earlier reports said leaders of the two countries had announced in July that they would try to conclude the negotiations by the end of 2014.

China and the ROK have experienced two decades of booming bilateral trade. Two-way trade surpassed 270 billion US dollars in 2013, nearly 50 times the volume in 1992.

ROK President Park Geun-hye arrived in Beijing Sunday to attend the 22nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting slated for Nov. 10-11.

 

[Aepsilons]

This is indeed something to celebrate.

Now more heat on Japan.

We're heading there.

China, Japan Look to Economic Co-op for Better Ties

 

[terranMarine]

i'm sure Japan doesn't want to be left out in the cold

 

[Aepsilons]

i'm sure Japan doesn't want to be left out in the cold

We have a greater footprint in China than the Koreans, and trade between Japan and China exceeds $320 Billion per annum. Japan and China are each other's greatest trading partners in Asia. Period.

Imagine. Japan and China's trade is already top $320 Billion per annum whilst Tokyo and Beijing's diplomatic row. Imagine what the trade volume would be when one removes the diplomatic differences? LOL.

 

[TaiShang]

Imagine. Japan and China's trade is already top $320 Billion per annum whilst Tokyo and Beijing's diplomatic row. Imagine what the trade volume would be when one removes the diplomatic differences? LOL.

That would be nothing short of a US-Canada economic integration.

 

[terranMarine]

We have a greater footprint in China than the Koreans, and trade between Japan and China exceeds $320 Billion per annum. Japan and China are each other's greatest trading partners in Asia. Period.

Imagine. Japan and China's trade is already top $320 Billion per annum whilst Tokyo and Beijing's diplomatic row. Imagine what the trade volume would be when one removes the diplomatic differences? LOL.

Yup, as i have said Abe is the one trying his "best" to meet up with Xi

 

[Aepsilons]

Yup, as i have said Abe is the one trying his "best" to meet up with Xi

Abe bows to the power of Japan's business interests. Its Japan's business interests to have a positive relations with China. Period.

 

[terranMarine]

Abe bows to the power of Japan's business interests. Its Japan's business interests to have a positive relations with China. Period.

Then he shouldn't have made the mistake 2 years ago if he bows to Japanese business interests from the beginning

 

[Edison Chen]

For China and Japan, besides business, we've got hell lot of things to talk about first.

If we don't build trust at the very beginning, our business will fail soon. Luckily, in contrast to Japan, China has far less obstructions in opening further business cooperations with Korea.

 

[Keel]

Yup, as i have said Abe is the one trying his "best" to meet up with Xi

It is a whole lot more entertaining seeing him presenting speeches in English

Yeah glad to see China-S Korea getting tighter bilateral relationships

 

[cirr]

South Korean companies bought 4 whole pages of the People's Daily for advertisements welcoming President Park’s visit to Beijing：

韩企在人民日报登4个整版广告欢迎朴槿惠来华(图)_凤凰资讯

 

[Aepsilons]

South Korean companies bought 4 whole pages of the People's Daily for advertisements welcoming President Park’s visit to Beijing：

韩企在人民日报登4个整版广告欢迎朴槿惠来华(图)_凤凰资讯

That's what I call being smart !
<渔夫很聪明。钓大鱼大钩。> Right?