A well-timed visit by President Lee Myung-bak

The ongoing visit to China by the president of the Republic of Korea, Lee Myung-bak, has come at an important time. In a few months, the two countries will mark the 20th anniversary of the establishment of diplomatic relations and they have designated this year one of friendly exchanges.

Flourishing trade and people-to-people exchanges have been the most impressive areas of Sino-ROK cooperation. The Sino-ROK trade volume now exceeds the ROK’s trade volume with the United States and Japan combined. China has for years remained the ROK’s largest trading partner and its largest source of trade surplus, about 30 percent of ROK’s exports now go to China.

To add a rosy tint to this desirable picture, there is growing speculation that talks on a China-ROK Free Trade Area will officially commence some time this year. The free trade area will undoubtedly benefit both countries and contribute to regional economic development.

So, this is a great opportunity for Beijing and Seoul to tap their potential in bilateral cooperation and deepen their strategic cooperative partnership, as President Hu Jintao told President Lee on Monday during their meeting. But to chart the future development of their good-neighborly ties, the two need to build greater mutual trust, properly handle their differences and step up cooperation on multilateral platforms so as to pave the way for more stable and rewarding cooperation in the years to come.

It is believed Lee’s visit will contribute to this trend and inject new vitality into bilateral cooperation.

Looking beyond the bilateral ties, both countries have a stake in the stability of the Korean Peninsula, which entered a new period with the leadership transition in the Democratic People’s Republic of Korea (DPRK) last month following the unexpected death of former leader Kim Jong-il.

This high-level contact between the two countries therefore has great implications not only for the development of bilateral ties but also for real progress on denuclearization of the peninsula.

Both neighbors of the DPRK, Beijing and Seoul have an important part to play in maintaining peace and stability in Northeast Asia.

Beijing is willing to see Seoul take steps to improve its ties with its neighbor to the north and it is sincere in its efforts to promote further dialogue on denuclearization of the peninsula.

Given the by-and-large constructive approach the region’s major stakeholders have demonstrated lately, we are hopeful that the six party talks can be restarted soon and that they can produce a reliable guarantee for peace in the region and beyond. 

(China Daily)

(Asia News Network)