Seoul, South Korea — In a significant move towards regional collaboration, China, Japan, and South Korea have agreed to enhance trade cooperation following a high-level meeting in Seoul on Sunday.
The meeting brought together Chinese Commerce Minister Wang Wentao, South Korean Minister of Trade, Industry and Energy Ahn Duk-geun, and Japanese Minister of Economy, Trade and Industry Yoji Muto. The trio discussed ways to bolster economic ties amidst global economic challenges.
According to a joint statement, the three nations committed to strengthening cooperation under regional and multilateral frameworks such as the World Trade Organization (WTO), the Regional Comprehensive Economic Partnership (RCEP), and the Asia-Pacific Economic Cooperation (APEC).
They vowed to accelerate negotiations on a trilateral Free Trade Agreement (FTA), enhance dialogue on supply chain cooperation and export control, and deepen partnerships in the digital and green economies.
“China, Japan, and South Korea are geographically close and culturally connected,” Minister Wang Wentao remarked. “Our economic and trade cooperation has yielded fruitful results.”
Wang emphasized the importance of unity in the face of global economic pressures, citing unilateralism and protectionism as challenges that need to be addressed collectively. “As major economies in the region and the world, we should jointly safeguard free trade and the multilateral trading system,” he stated.
He also highlighted China’s commitment to high-quality development and opening up to the world, expressing readiness to share development opportunities with other countries, including South Korea and Japan.
The three countries also called for joint efforts to improve the business environment and promote local cooperation, aiming to inject new vitality into the global economy.
