Ministers vow to seal pact on investment
Source: Agencies |
April 25, 2011, Monday
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THE trade ministers of Japan, China and South Korea vow to press forward to seal an investment pact among their countries.
Japan's Banri Kaieda, China's Chen Deming and South Korea's Kim Jong-hoon said in a joint declaration yesterday that they hope to reach consensus on their Trilateral Investment Agreement as soon as possible.
The countries already have bilateral agreements with one another, but Japan is seeking a three-way pact that includes intellectual property protection and other provisions.
The ministers are meeting in Tokyo ahead of next month's summit between the countries' leaders.
They also stressed China's and Korea's willingness to offer Japan any recovery help it requests following March's devastating earthquake and tsunami.
China and South Korea also rebuffed yesterday Japan's calls for more "reasonable" restrictions on imports of food and other products that could be contaminated with radiation after last month's nuclear disaster, showing the difficulty Japan will face in restoring trust in its products.
Trade ministers from China and South Korea also told their Japanese counterpart they hope Japan can quickly repair its supply chain, which was damaged after last month's earthquake and tsunami, as shortages of Japanese manufactured goods will impact the global economy.
"I asked China and South Korea to make sure there is a scientific basis for restrictions on our imports," Kaieda told reporters after a summit meeting.
"South Korea's response was that they have to place importance on peoples' safety. China also stressed the importance of food products."
Kaieda met with Chen and Kim as Japan grapples with its worst crisis since World War Two.
A 9.0 magnitude earthquake and a tsunami towering more than 10 meters battered its northeast coast on March 11, leaving nearly 28,000 dead or missing and triggering radiation leaks at a nuclear power plant.
The government estimates the material damage alone could top US$300 billion, making it by far the world's costliest natural disaster.
Japan's Banri Kaieda, China's Chen Deming and South Korea's Kim Jong-hoon said in a joint declaration yesterday that they hope to reach consensus on their Trilateral Investment Agreement as soon as possible.
The countries already have bilateral agreements with one another, but Japan is seeking a three-way pact that includes intellectual property protection and other provisions.
The ministers are meeting in Tokyo ahead of next month's summit between the countries' leaders.
They also stressed China's and Korea's willingness to offer Japan any recovery help it requests following March's devastating earthquake and tsunami.
China and South Korea also rebuffed yesterday Japan's calls for more "reasonable" restrictions on imports of food and other products that could be contaminated with radiation after last month's nuclear disaster, showing the difficulty Japan will face in restoring trust in its products.
Trade ministers from China and South Korea also told their Japanese counterpart they hope Japan can quickly repair its supply chain, which was damaged after last month's earthquake and tsunami, as shortages of Japanese manufactured goods will impact the global economy.
"I asked China and South Korea to make sure there is a scientific basis for restrictions on our imports," Kaieda told reporters after a summit meeting.
"South Korea's response was that they have to place importance on peoples' safety. China also stressed the importance of food products."
Kaieda met with Chen and Kim as Japan grapples with its worst crisis since World War Two.
A 9.0 magnitude earthquake and a tsunami towering more than 10 meters battered its northeast coast on March 11, leaving nearly 28,000 dead or missing and triggering radiation leaks at a nuclear power plant.
The government estimates the material damage alone could top US$300 billion, making it by far the world's costliest natural disaster.
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