What's new

China, S. Korea, Japan to hold new talks on trilateral FTA

TaiShang

ELITE MEMBER
Joined
Apr 30, 2014
Messages
27,848
Reaction score
70
Country
China
Location
Taiwan, Province Of China
China, S. Korea, Japan to hold new talks on trilateral FTA
Source:Xinhua Published: 2014-11-23

China, South Korea and Japan will hold the sixth round of talks for a trilateral free trade agreement (FTA) next week, after Beijing and Seoul concluded the substantive negotiations for a bilateral FTA, the trade ministry said on Sunday.

The sixth round will be held on Nov. 24-28 in Tokyo, according to the Ministry of Trade, Industry and Energy. Negotiations for the trilateral FTA were launched in November 2012.

In the past two years, the three sides discussed various areas, including goods, services, investment, competition, intellectual property rights, e-commerce and environment, under the principle of achieving a comprehensive and high-level FTA, the ministry said.

During the upcoming round, delegates from the three countries will focus mainly on discussing modality, or basic guideline, goods liberalization and how to liberalize services and investment. Differences have lasted over the issues among the three nations, the ministry said.

The next round of talks comes after Chinese President Xi Jinping and his South Korean counterpart Park Geun-hye confirmed in Beijing the conclusion of substantive negotiations on the China- South Korea FTA on Nov. 10.

All negotiations for the bilateral FTA will be wrapped up by the end of 2014, and the agreement is expected to be signed 2015 and take effect in the second half of next year.

The South Korean trade ministry said it will seek to maintain consistency in talks for the trilateral trade deal with the China- South Korea FTA, which was effectively agreed. It noted that it will also actively participate in the Regional Comprehensive Economic Partnership (RCEP).

South Korea has sought to join the negotiations for the RCEP, a multilateral FTA that will include China, South Korea, Japan and 10 members of the Association of Southeast Asian Nations (ASEAN) as well as India, Australia and New Zealand.
 
it is really funny, that we hate each other among china, japan and Korea.

There isn't that much real hate between Koreans and Chinese aside from some netizens with too much time on their hands
 
Get it done already!

S Korea, China and Japan to Hold New Round of FTA Talks / Sputnik International

Japan, South Korea and China will launch tomorrow a new round of talks for a free trade pact (CJKFTA), which is expected to be a success within a broader trend on trade liberalization in Asia-Pacific.

MOSCOW, November 23 (Sputnik) — Japan, South Korea and mainland China are set to conduct the sixth round of negotiations for a trilateral free trade agreement (FTA) in the upcoming week, after a bilateral FTA was agreed upon between Seoul and Beijing in mid-November.

The new agreement will be negotiated in Tokyo during a five day session starting Monday, according to a Yonhap News report. The previous round of talks took place in Beijing in September, and ended with little success. The discussions of the proposed FTA were launched in November 2012.

South Korea’s Ministry of Trade, Industry and Energy stated that the three nations are expected to achieve significant advances in the negotiation process, as scores of Asian-Pacific countries have recently focused on the development of multiple regional FTAs.

"In the past five rounds of negotiations, the three countries held discussions on various issues from products, services and investment to competition, intellectual property rights, the environment and regulations," the Korean ministry said as quoted by the Korea Times.

China is pushing to finalize trade liberalization with its neighbors, as a direct counter to the US-proposed Trans-Pacific Partnership (TPPis expected to be implemented as early as 2015, after having been finally approved by Japan’s PM Shinzo Abe. The multilateral TPP explicitly excludes China, which makes the latter particularly eager to sign trade deals with as many Asia-Pacific nations as possible.

"At the upcoming round, the three countries will focus on market liberalization for products, services and investment," the Korean ministry said.

The sixth round of trilateral Japan-China-Korea negotiations comes two weeks after the China-Korea FTA was concluded in Beijing between Chinese leader XI Jinping and South Korean President Park Geun-hye on November 10. South Korea’s Ministry of Trade, Industry and Energy has also stressed the importance of strengthening economic ties between Seoul and Beijing.

"The government will continue to actively take part in the Korea-China-Japan FTA negotiations, as well as other discussions on creating a regional economic bloc such as the Regional Comprehensive Economic Partnership while maintaining their consistency with the Korea-China FTA," the ministry said.

The negotiations for an FTA between Seoul and Tokyo have slowly been progressing since 2004, however, Japan’s reluctance to open its agricultural market for more imports has been the principal obstacle. Now, as Japan is planning on joining the TPP, a trade deal including Seoul and Tokyo is not so far fetched anymore.

The trilateral Japan-South Korea-China trade pact is expected to be signed in 2015 and to take effect sometime later that same year. Simultaneously, South Korea is seeking to join the RCEP talks, which is a Regional Comprehensive Economic Partnership, another proposed FTA to include nations of Asia and Oceania from India to Japan, from China to New Zealand.
 
Back
Top Bottom