Research starts on FTA for 3 countries
Source: Xinhua |
May 7, 2010, Friday
|
Print Edition
Print Edition
CHINA, Japan and South Korea yesterday began a joint research on setting up a free trade area among the three nations.
During the first round of joint research meeting on the FTA held in Seoul, China's Vice Commerce Minister Yi Xiaozhun, Japan's Deputy Minister of Foreign Affairs Otabe Yoichi and Deputy Minister of Economy, Trade and Industry Hiroyuki Ishige and South Korea's chief FTA negotiator Lee Hye-min signed a joint statement that the three nations, in light of consensus reached previously, will try to complete the joint research ahead of the trilateral leaders' meeting in 2012.
Research institutes of the three nations have done comprehensive and in-depth studies on the possibility of setting up a regional free trade area since their leaders agreed to a non-governmental academic research on the issue in 2002.
The studies concluded positively that the FTA will help eliminate trade barriers, expand regional market and promote economic integration among the three nations to achieve mutual benefit.
During the second trilateral leaders' meeting last year, the three nations agreed on launching a joint research conducted by the governments, industrial sectors and academic agencies as soon as possible.
During the first round of joint research meeting on the FTA held in Seoul, China's Vice Commerce Minister Yi Xiaozhun, Japan's Deputy Minister of Foreign Affairs Otabe Yoichi and Deputy Minister of Economy, Trade and Industry Hiroyuki Ishige and South Korea's chief FTA negotiator Lee Hye-min signed a joint statement that the three nations, in light of consensus reached previously, will try to complete the joint research ahead of the trilateral leaders' meeting in 2012.
Research institutes of the three nations have done comprehensive and in-depth studies on the possibility of setting up a regional free trade area since their leaders agreed to a non-governmental academic research on the issue in 2002.
The studies concluded positively that the FTA will help eliminate trade barriers, expand regional market and promote economic integration among the three nations to achieve mutual benefit.
During the second trilateral leaders' meeting last year, the three nations agreed on launching a joint research conducted by the governments, industrial sectors and academic agencies as soon as possible.
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