Chinese Minister of Commerce Bo Xilai said here Wednesday that the economic ties between China and the Republic of Korea (ROK) are stable and China will expand bilateral cooperation. 

During his meeting with Ban Ki-moon, minister of foreign affairs and trade of the ROK, Bo said bilateral economic relations have made great progress and the trade volume of last year reached US$6.32 billion.

ROK enterprises' actual investment in China was nearly US$200 billion, Bo said.

Bo said China was confident of implementing the consensus, which was reached by the leaders of the two countries last year to raise bilateral trade volume to US$100 billion in five years.

He expressed his satisfaction in the relationship, saying that the two countries shared huge potential for two-way investment and they could enhance cooperation in multilateral trade system.

The Chinese minister welcomed ROK enterprises to participate in the West Development scheme and the rejuvenation of China's northeast old industrial region.

Ban said the economies of the two countries were complementary and the economic development of either side would benefit the other side.

Briefing Bo on the political situation in the ROK, Ban said that China's economic progress was conducive for the ROK's development and he was optimistic of reaching the trade target.

At the invitation of Chinese Foreign Minister Li Zhaoxing, Ban started his China tour Sunday. 

(Xinhua News Agency March 31, 2004)