Indonesia, S. Korea ink deals to boost economic ties

Indonesia, S. Korea ink deals to boost economic ties

Indonesia, S. Korea ink deals to boost economic ties

Chinese President Xi Jinping has reportedly stressed the importance of South Korea-China relations and expressed strong hope to develop bilateral relations during his summit talks with President Moon Jae-in.

Xi was quoted as saying it would be "new beginnings and a good start". "APEC, which has achieved brilliant growth over the past thirty years, has become the center of economic cooperation in the Asia-Pacific region, and the scale of regional trade has increased by more than 7% each year", Moon said while attending a meeting of the APEC Business Advisory Council (ABAC), which convened in Da Nang. "Let us both work hard to recover lost time". They first met in Berlin in July before they headed to Hamburg for a Group of 20 summit.

South Korea and Indonesia reached a series of business cooperation agreements Thursday (Nov 9) that could be worth nearly US$2 billion if finalised, South Korea's Yonhap news agency reported. Xi reportedly said he would try to visit, and that in case he is unable to attend he will send a high-level delegation instead.

At the APEC summit, Moon will seek support for his country's efforts to denuclearize North Korea, which staged its latest and most powerful nuclear test so far on September 3.

The Blue House initially said the Thaad issue was not going to be raised during the summit, but Xi brought it up. "I totally feel the same way", Abe told reporters.

President Moon Jae-in (left) shakes hands with Chinese President Xi Jinping prior to their talks in the central Vietnamese city of Danang on November 11. There are also signs of a battle of nerves for economic leadership in the Asia-Pacific region between the USA and China, dominant players in the global economy.

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