S. Korea trip spells deeper ties

▶ FM’s tour shows regional cohesion, resilience

Chinese State Councilor and Foreign Minister Wang Yi’s ongoing three- day visit to South Korea has yielded substantial fruits, reaching a ten- point consensus on issues ranging from anti- pandemic cooperation and advancing the Free Trade Agreement ( FTA), to cultural exchanges and establishing a committee to chart a blueprint for future bilateral ties, which experts said showed deepening ties between the two countries and hinted at better cooperation despite US pressure.

Wang arrived in South Korea in late Wednesday after he wrapped up the two- day trip to Japan. Wang’s tour to Japan and South Korea showed that by putting aside disputes, the three major countries in Asia could work together to promote regional economic development amid the coronavirus pandemic, and be resilient to uncertainties from outside the region, analysts said.

During the meeting between Wang and South Korean Foreign Minister Kang Kyung- wha on Thursday, they reached a 10- point consensus, which focused on facilitating free trade talks between China and South Korea and the implementation of the world’s largest free trade agreement –

Regional Comprehensive Economic Partnership ( RCEP), which China, South Korea and Japan signed.

Lü Chao, director of Center for Korean studies at Liaoning Academy of Social Sciences, told the Global Times that the consensus reached with Seoul reflects Beijing’s willingness to further develop the China- South Korea strategic cooperative partnership and to promote economic cooperation in Northeast Asia after the RCEP signing.

Lü said that there is much overlap between the South Korea’s “New Northern Policy” and Belt and Road Initiative. China, Japan and South Korea are the “economic locomotive” of Northeast Asia and even Asia, and their cooperation will boost regional economy amid the pandemic.

Hwang Jaeho, a professor at Hankuk University of Foreign Studies in

Seoul, said that China’s promotion of the signing of the RCEP, its openness to join the Comprehensive and Progressive Agreement for the TransPacific Partnership ( CPTPP), and its work on facilitating talks on the China- Japan- South Korea Free Trade Agreement ( FTA) showed that China is fulfilling its promise of multilateralism and globalization.

The expert told the Global Times that South Korean President Moon Jae- in’s recent policies in boosting the economy, which needs to expand trade exchanges with other countries, could work better with China’s “dual circulation” plan on connectivity with the outside world.

Topics concerning RCEP and the trilateral FTA ran through Wang’s ongoing tour. The achievements showed that it is promising for the three major countries in Asia to work together on regional development and stability through high- level talks.

But Japan also has political concerns that may sometimes hinder trilateral cooperation. Lü noted that due to US political influence on Tokyo, while Seoul applies a relatively independent foreign policy, the room for future cooperation between China and South Korea will be greater than that between China and Japan.

SK President Moon Jaein’s economic policies could work better with China’s “dual circulation” plan on connectivity with the outside world.