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Vice-Premier Wang Qishan told a gathering of top international trade officials that the country is willing to strengthen energy, trade and financial ties with others in Northeast Asia to counter the ongoing economic slowdown.

"China has published opening-up policy packages in recent years to push forward regional economic cooperation. We sincerely wish to further lower trade barriers and achieve economic prosperity together," he told delegates at the Sixth High-Level Forum on Northeast Asia Economic and Trade Cooperation, part of the ongoing Eighth Northeast Asia Investment and Trade Expo taking place in Changchun, the capital of Jilin Province.

Senior officials from China, the Democratic People's Republic of Korea, Russia and other Northeast Asian countries agreed they would strive for regional development.

The expo is aimed at setting up a platform for high-ranking officials, leading experts and domestic and foreign business leaders to exchange views and seek business opportunities.

"It is the best time in history for countries and cites in the region to seek cooperation because three major countries - China, Russia and DPRK - are all striving for economic development," added Sun Zhengcai, Party chief of Jilin.

The city is located in the center of Northeast Asia, which includes China, the DPRK, the Republic of Korea, Japan, Mongolia and the east Siberian region of Russia.

The region is being seen as playing an increasingly important role in promoting development, prosperity and security across Asia-Pacific as a whole.

With total export volumes growing from $59.5 billion to $126.8 billion, an annual increase of 16.3 per cent during the 11th Five-Year Plan (2006-10), Northeast China has achieved rapid growth in foreign trade and foreign capital utilization in recent years, according to the National Development and Reform Commission.

One of the region's most acclaimed economic projects in recent years was by The United Nations Development Programme, which launched a plan in 1991 to set up an economic development zone in the Tumen River delta, a 516-kilometer-long border river that flows through China, Russia and the DPRK.

The program was later updated into the Greater Tumen Initiative, which aims to promote the regional development, prosperity and security of the Asia-Pacific region.

Choi Hoon, the director of UNDP's Tumen Secretariat, told China Daily that the past decade had seen rapid development in the Tumen region, with various countries benefiting directly from the cooperation.

"We expect the cooperation will bring not only prosperity but also regional security with the DPRK's further participation in the program and Russia's entry into the World Trade Organization," he said.

Seo Gil-bok, the vice-minister of commerce for the DPRK, added: "We can achieve common development and prosperity if each country strengthens their exchanges and cooperation, under the principle of mutual benefit."

He added that a new blueprint for the further development of the Rason Economic and Trade Zone - a special economic zone of the DPRK, which is next to Yanbian prefecture in Jilin province - had been finished, with an expansion of various ports in the area planned.

"We are willing to negotiate with relevant banks and help bring renminbi and the ruble as settlement currencies into the region," he added.

Contact the writer at [email protected] and [email protected].

Han Junhong contributed to this story.

(China Daily 09/07/2012 page14)