According to Yonhap News,

(SEOUL=Yonhap News) South Korea and China will hold high-level talks this week to address difficulties faced by their businesses following the implementation of a bilateral free trade agreement last year, Seoul's Foreign Ministry said Monday.

Second Vice Foreign Minister Cho Tae-yul and Chinese Vice Commerce Minister Gao Yan will meet in Seoul Wednesday to discuss recent trends in the global economy and the economies of the two countries as well as the current status of bilateral economic cooperation, the ministry said in a press release.

The two sides will especially focus on ways to further develop their economic ties following the activation of their free trade pact in December and seek each other's cooperation in resolving challenges faced by their firms through the removal of export barriers and other means.

The meeting is also expected to deal with the implementation of key agreements reached during last year's bilateral summit talks.

The joint economic committee was launched in 1993 shortly after the sides established diplomatic ties and has met on a regular basis at the vice ministerial level.

Wednesday's meeting will be the 21st round.

China is the world's single largest importer of South Korean goods, accounting for nearly one-fourth of South Korea's total outbound shipments.

hague@yna.co.kr

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