China, Japan, ROK Discuss Trade, Investment in Free Trade Agreement Talks

Delegates from China, Japan and the Republic of Korea (ROK) discussed goods and services trade and investment as they met in Beijing on Wednesday for the 11th round of trilateral free trade agreement (FTA) negotiations.

    Vice Commerce Minister Wang Shouwen led the Chinese delegation, the Chinese Ministry of Commerce said in a statement. Since their launch in November 2012, China-Japan-ROK Free Trade Agreement negotiations have been carried out. 

    The three parties agreed that the establishment of a trilateral FTA will help give full play to their advantages, unleash the economic vitality of the three countries and boost regional prosperity and development, Chinese News Agency (Xinhua) reported.

    In November 2015, leaders from the three nations reiterated in a joint statement that they should accelerate the FTA negotiations.

    China is the largest trading partner of Japan and the ROK. The three countries, whose combined GDP accounts for around 20 % of that of the whole world, would constitute one of the three largest economic blocs, along with the European Union and North America, both of which already have FTAs among themselves.