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Asian leaders agree to resume FTA talks at trilateral summit

Reporter TVBS News Staff
Release time:2024/05/27 17:51
Last update time:2024/05/27 17:54
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Asian leaders agree to resume FTA talks at trilateral summit (AP) Asian leaders agree to resume FTA talks at trilateral summit
Asian leaders agree to resume FTA talks at trilateral summit (AP)

SEOUL (TVBS News) — Leaders from China, Japan, and South Korea convened at the China-Japan-South Korea Trilateral Summit on Monday (May 27), announcing a joint declaration to resume negotiations on a Free Trade Agreement (FTA) and to foster a transparent investment environment. The summit, symbolizing a return to cooperation after a hiatus since December 2019, marks a significant step towards enhancing economic ties and stability in the region.

Before the summit, Chinese Premier Li Qiang and Japanese Prime Minister Fumio Kishida held a preliminary meeting a day earlier. Kishida raised serious concerns about the People's Liberation Army's (PLA) military drills in the Taiwan Strait, emphasizing the importance of peace. The leaders also discussed opposition to North Korea's satellite launches, which violate United Nations (UN) resolutions. They agreed on creating secure supply chains and a predictable investment climate.

 

The summit's discussions extended to military and diplomatic concerns, reflecting the complex interplay of regional security, economic interests, and international diplomacy. Japan's Ground Self-Defense Force's ongoing largest annual military exercise has sparked worry among South Korean civilians, fearing a strengthened military alliance between Japan and South Korea under the influence of the U.S. to counter China.

In a significant move to bolster economic relations, Li and Kishida called for the swift removal of China's ban on Japanese seafood products. Furthermore, Li's meeting with South Korean President Yoon Suk-yeol led to an agreement to resume the second phase of negotiations on the China-South Korea FTA and to establish a diplomatic and security dialogue, with the first meeting scheduled for June.

Li's exclusive meeting with Samsung Electronics executive chairman Lee Jae-yong during the summit underscores the importance of business and technology in China-South Korea relations. As China remains the largest trading partner for both Japan and South Korea, the resumption of the trilateral summit sends a positive signal for future collaboration and mutual economic growth among these key Asian economies.

Asia-Pacific News

#China-Japan-Korea Summit# Free Trade Agreement# investment environment# military drills# supply chains# Japanese seafood# China-South Korea FTA# China Japan South Korea economic ties# opposition to North Korea satellite launches# China ban on Japanese sea

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