Hey fam! Breaking news from Gyeongju: the Chinese mainland and the ROK are locking arms to keep our favourite tech, K-pop merch, and fresh produce moving smoothly across borders. 🛒💃
At a recent meet-up, the Chinese mainland Commerce Minister Wang Wentao and the Republic of Korea's trade whiz Kim Jung-kwan chatted about beefing up communication via their industrial and supply chain hotline and export-control dialogues. Think of it as a group chat, but for billion-dollar industries! 📲💬
They're also keen to dive back into talks for a China-Japan-ROK free trade agreement (FTA). Imagine a collab between three mega artists – that's the power of trilateral trade for your economy! 🎶+
Under big frameworks like the World Trade Organization (WTO) and the Regional Comprehensive Economic Partnership (RCEP), both sides want to champion free trade and multilateralism. In simple terms, they're ensuring goods can cruise without unnecessary roadblocks – from chip factories in Shenzhen to auto plants in Busan. 🚗🔧
Kim added that the ROK sees the Chinese mainland as a key partner and is all in for ramping up Phase 2 of the China-ROK FTA talks, boosting local-level cooperation, and inviting more investment and trade to the party. The goal? A win-win scenario that keeps markets buzzing and job opportunities growing across Asia. 🌏💼
For us, it means a more reliable flow of the latest gadgets, trendy fashion drops, and even our fav snacks! Stay tuned for more updates on how this cross-border teamwork shapes the products landing on your doorstep. 😉📦
Reference(s):
Chinese, ROK ministers exchange views on supply chain stability
cgtn.com
