According to Yonhap News,

(SEOUL=Yonhap News) Korea will increase industrial cooperation with Guizhou Province, an emerging market in Southwest China.

Moon Jae-do, the 2nd Vice Minister of Trade, Industry &Energy, met with Guizhou Vice Governor Meng Qiliang on November 25 in Seoul to seek measures to enhance bilateral cooperation in response to the Korea-China Free Trade Agreement (FTA).

Guizhou, the gateway to Southwest China, is key to the China Western Development Plan that has been promoted since 2000.

"We should make the best use of the Korea-China FTA in order to expand bilateral trade and cooperation. We should strive to find a new growth engine that can contribute to the economies of both countries," said Moon.

Meng introduced Guizhou’s industrial complex status and development plans.

“We ask for Korea’s investment in the sectors that we wish to develop, such as chemicals and heavy industry, food and tourism,” said Meng.

Korea and China signed a memorandum of understanding for cooperation enhancement last July to revitalize regional trade and increase cooperation between central and local governments.

MOTIE will support Korean companies entering the Chinese market by maximizing the use of the MOU.

prayerahn@yna.co.kr

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