South Korea and China Hold Joint Export Control Policy Briefing in Wuxi
Wuxi, Jiangsu Province, China (November 15, 2024) – The Ministry of Trade, Industry and Energy (MOTIE) of South Korea and the Ministry of Commerce of China jointly held a policy briefingsession in Wuxi, Jiangsu Province, on November 15th. The event aimed to introduce both countries’ export control policies to businesses from both South Korea and China.
The briefing was co-chaired by Choi Woo-hyeok, Director General of the Trade Security Policy Bureau at MOTIE, and Jiang Qianliang, Director General of the Safety and Control Bureau at the Ministry of Commerce. Representatives from both countries’ export control departments presented their respective policies and work practices to the attending businesses.
According to MOTIE, both countries agreed to strengthen communication and cooperation in the future to promote trade development that aligns with bilateral regulations. This collaboration aims to ensurethe smooth and stable operation of global industrial chains and supply chains.
The event marks a significant step in fostering closer economic cooperation between South Korea and China. By sharing their respective export control policies, both countries aim to enhance transparency and predictability in trade, ultimately contributing to a more stable and robust global economic environment.
Background:
Export controls are measures implemented by governments to regulate the export of certain goods, technologies, and services for national security, foreign policy, or economic reasons. These controls can impact businesses involved in international trade, particularly those dealing with sensitive technologies or dual-use goods that can be used for both civilian and military purposes.
Significance:
The joint briefing in Wuxi highlights the increasing importance of export control policies in a globalized world. By sharing information and fostering dialogue, South Korea and China are demonstrating their commitment to promoting responsible trade practices and ensuring the stability of global supply chains.
Future Outlook:
The event serves as aplatform for continued dialogue and collaboration between South Korea and China on export control matters. It is expected that both countries will continue to work together to address challenges related to export controls and promote a more open and transparent global trading environment.
References:
- Yonhap News Agency (2024, November 15). South Korea and China Hold Joint Export Control Policy Briefing in Wuxi. Retrieved from [Link to original article]
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