In a bid to keep global factories humming and goods moving seamlessly, Chinese mainland Commerce Minister Wang Wentao and ROK Minister of Trade, Industry and Energy Kim Jung-kwan met in Gyeongju this Saturday. Against a backdrop of lingering disruptions, both sides mapped out plans to fortify their industrial and supply chains.
Wang emphasized the need for robust communication channels, spotlighting the hotline for industrial and supply chain cooperation and the dialogue on export controls. "By ensuring an unimpeded flow of goods, we safeguard businesses and consumers on both sides," he noted.
The ministers also underlined the role of multilateral frameworks. Under the banners of the World Trade Organization and the Regional Comprehensive Economic Partnership (RCEP), they pledged to uphold free trade and push for an early resumption of the China-Japan-ROK free trade agreement talks.
On his part, Kim highlighted Chinas position as a key economic and trade partner for the ROK. He expressed the ROKs readiness to accelerate the second phase of the China-ROK free trade agreement, deepen local-level cooperation, and boost bilateral investment.
This alignment comes as global supply chains face challenges ranging from shifting consumer demand to evolving export controls. By doubling down on cooperation, the Chinese mainland and the ROK aim to create a more predictable trade environment that benefits businesses, entrepreneurs, and end users alike.
Analysts say that smoother trade lanes could open doors for emerging market startups, tech ventures, and cross-border digital nomads who rely on reliable logistics for everything from electronics to fresh produce.
As negotiations move forward under shared frameworks, stakeholders can expect regular updates on progress in G20 forums, WTO meetings, and RCEP gatherings. For young global citizens tracking these developments, the message is clear: collaboration remains the best path to weather global headwinds and unlock new economic opportunities.
Reference(s):
Chinese, ROK ministers exchange views on supply chain stability
cgtn.com
