China, South Korea Meet to Discuss Trade

Chinese and South Korean officials met in Qingdao, China, Aug. 1 to discuss trade and economic relief measures to mitigate the impact of the COVID-19 pandemic, an Aug. 5 China Ministry of Commerce news release said. China said the two countries are “well-placed to restore and promote commercial exchanges” now that each country has seen success in controlling the virus. “There’s an urgent need to explore paths to restore and develop trade,” China said.

The two sides also agreed to “vigorously advance” the second phase of negotiations on a free trade deal and “organize all kinds of trade promotion.” Both countries also hope to sign the Regional Comprehensive Economic Partnership Agreement by the end of the year (see 2005130018) and “uphold the multilateral trading system,” China said.