Japan, China, S. Korea trade ministers pledge to promote free trade | ABS-CBN

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Japan, China, S. Korea trade ministers pledge to promote free trade

Japan, China, S. Korea trade ministers pledge to promote free trade

Kyodo News

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TOKYO - Trade chiefs from Japan, China and South Korea agreed Saturday to cooperate to promote trade and investment across the globe at a trilateral meeting in Tokyo.

The three Asian countries also reaffirmed in a joint statement the need to counter protectionist moves and pledged to play a leading role in realizing high-level and comprehensive rules in a three-way trade pact they are pursuing and the broader Regional Comprehensive Economic Partnership (RCEP).

The RCEP is an ambitious trade agreement being discussed by the three countries, the 10 member countries of the Association of Southeast Asian Nations, Australia, India and New Zealand.

"The collaboration between the three major economies in Asia is extremely important amid increasing uncertainty over the global economy," said Japanese Minister of Economy, Trade and Industry Hiroshige Seko, who chaired the meeting.

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Seko added that he hopes the discussions at the meeting will be reflected in talks at a trilateral summit that may be held as early as December.

South Korean Trade, Industry and Energy Minister Joo Hyung Hwan said economic cooperation between the three nations is not enough and hopes the latest gathering will help contribute to promoting trade in Northeast Asia.

Chinese Commerce Minister Gao Hucheng said he wants the three countries to reach a conclusion on a trade deal as soon as possible.

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