Beijing and Seoul are expected to strengthen connections between their development strategies in geopolitics, innovative economy and manufacturing, following a leaders’ meeting on Oct 31.

The agreement was made during a meeting between President of the Republic of Korea Park Geun-hye and Chinese Premier Li Keqiang, who is on a three-day visit in Seoul.

“As a close neighbor and strategic partner of the ROK, China is willing to push pragmatic cooperation between the two countries to a new level,” said Premier Li.

According to Premier Li, China and the ROK should maintain frequent high-level visits and dialogue at all levels. He urged an early launch of negotiations for maritime demarcation between the two countries, as well as strong cooperation in non-traditional security, law enforcement and disaster relief.

In particular, Premier Li said the two neighbors should cultivate new areas for cooperation by connecting development plans, for example, to connect China’s “Belt and Road Initiative” with the ROK’s “Eurasia Initiative”.

Similarly, China’s “mass innovation and entrepreneurship” should join the ROK’s “innovative economy”, whereas “Made in China 2025” should link with the “Manufacturing Innovation 3.0” of the ROK, in a bid to achieve economic upgrades and the transformation of both countries, said Premier Li.

Moreover, Premier Li called for establishing platforms for youth entrepreneurship and the expansion of third-party markets, adding that a China-ROK innovation and entrepreneurship park will be set up in Chengdu, southwest China’s Sichuan province.

“China also seeks to work with the ROK to advance the economic integration of East Asia by pushing forward the negotiations for the China-Japan-ROK Free Trade Agreement and the Regional Comprehensive Economic Partnership,” the Premier said.

In addition, Premier Li also called for stronger cultural and people-to-people exchanges.

Agreeing with Premier Li’s proposals, President Park said Seoul is willing to work with Beijing to enhance cooperation in fields such as economy and trade, finance, innovation, manufacturing and medical care. She also urged to speed up the approval procedures for the China-ROK Free Trade Agreement to bring more benefits to the people of the two countries.

Talking about the Korean Peninsula, Premier Li said that China will persist in maintaining its peace and stability, and stick to the principle of denuclearization and dialogues. All the parties concerned should make joint efforts in keeping the present situation on the right track, and China will continue to support the ROK and the Democratic People’s Republic of Korea (DPRK) to improve ties, in an effort to realize reconciliation and cooperation.

Park Geun-hye said that the ROK attaches great importance to China’s efforts in promoting denuclearization and maintaining the peace and stability of the Korean Peninsula, and is ready to strengthen communication and coordination with the Chinese side. The ROK is also willing to boost the reconciliation and cooperation with the DPRK.

The two leaders witnessed the signing of 17 cooperation deals in such fields as economy and trade, people-to-people exchanges, science and technology, environmental protection and quality inspection.