China, Japan and South Korea have agreed to boost trade cooperation in a meeting held in Seoul on Sunday. In a statement released after the meeting the trade ministers of the three countries agreed to closely cooperate for a comprehensive and high-level talks on a trilateral free trade agreement deal to promote regional and global trade.
The meeting was attended by South Korean Industry Minister Ahn Duk-geun, his Japanese counterpart Yoji Muto, and Chinese Commerce Minister Wang Wentao.
Speaking on the occasion, South Korean Trade Minister said it is necessary to strengthen the implementation of Regional Comprehensive Economic Partnership (RCEP) to create a framework for expanding trade cooperation among the three countries through Korea-China-Japan FTA negotiations.
The three countries held their first economic dialogue in five years aiming to improve free trade in the region amid concern over US President Donald Trump’s trade tariffs. President Trump has promised to levy more tariffs which he is due to announce on Wednesday calling it liberation day.