Trade negotiations between China, Japan, and South Korea resumed from 22-23 March, nearly one year after officials held their previous round. The three countries are also part of a broader effort to clinch a 16-country regional trade deal, which is vying for conclusion this year. China-Korea-Japan FTA The conference between senior officials was held in Seoul, South Korea, and was headed by China’s Vice Minister of Commerce Wang Shouwen, Japan’s Deputy Minister for Foreign Affairs Yamazaki Kazuyuki, and South Korea’s Deputy Minister for Trade and Investment Kim Young-sam. Talks for a free trade agreement (FTA) between the three countries began in November 2012 at the 21 st Association of Southeast Asian Nations (ASEAN) conference. Since then, meetings have been held in rotation between the three countries. Together, the large Asian economies make up one-fifth of the world’s total GDP. Increasing trade and investment flows across the board is another key objective of the negotiations, particularly given these countries’ major roles in the wider regional and global economy, as well as the potential to link up value chains. Throughout the 13 negotiating rounds held to date, frequent topics of discussion have included trade in goods and services and investment, according to...
Theme: GLOBAL ECONOMIC GOVERNANCE
Tags: Regional Trade Agreements (RTAs), China, Japan, Regional Trade Agreements (RTAs), South Korea