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China, Japan and South Korea restart trade negotiations

  • Author:Orient Honest
  • Source:www.china-disposable.com
  • Release on :2017-01-12
The 11th round of the China-Japan-South Korea Free Trade Agreement (FTA) was held in Beijing from January 9 to 11, and the negotiations have been more than nine months away from the previous round. During the three-day talks, the three countries focused on the core issues of tariffs, rules of origin, trade in goods, liberalization of trade in services and detailed implementation plans. The three countries will also formally start consultations on finance, communications and other fields.

At present, China, Japan and South Korea total GDP more than 16 trillion US dollars, accounting for more than 20% of the world. China is Japan and South Korea's largest trading partner, Japan and South Korea, respectively, China's second largest and third largest trading partner. The "China-Japan-South Korea Trade Development Index Report", which was published for the first time last year, shows that China, Japan and South Korea have established cooperation and consultation mechanisms in various fields, including 17 ministerial meetings and various exchange and dialogue mechanisms. The three countries actively participate in the negotiation of FTA and regard it as a supplementary way to promote trade liberalization. China, Japan and South Korea in the global industrial chain division of labor has close cooperation, the establishment of China-Japan-South Korea FTA reflects the actual needs of economic and trade cooperation between the three countries will help to give full play to the three countries complement each other.