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China Japan South Korea Free Trade Agreement

At present, the stability and improvement of Sino-Japanese relations have also created good conditions for the improvement of economic relations between the two sides. Japanese companies, in particular, are optimistic about the potential of China-Japan free trade cooperation, and calls for more cooperation from China and Japan are growing. The fifteenth round of discussions was held in Tokyo from 9 to 12 April 2019. [5] “This round of negotiations is the first after the three parties have reached a consensus on the overall acceleration of negotiations. The three parties held a meeting of the chief negotiators, the hearing of directors-general and 13 sub-conferences on specific topics, reached a positive consensus on how and how to negotiate relevant issues, and outlined working arrangements for the next stage. The three parties unanimously agreed to further increase the level of trade and investment liberalization on the basis of the consensus established in the Regional Comprehensive Economic Partnership Agreement (RCEP), in which the three parties participated, and to adopt high ground rules for the creation of a RCEP Plus free trade agreement. ” – fta.mofcom.gov.cn[6] It was said that negotiations would accelerate on the basis of the US government`s current “trade war” with China. The governments of China, South Korea and Japan are expected to begin negotiations on a possible trilateral free trade agreement between the three countries in 2012, first concluding bilateral agreements. Although President Xi Jinping`s visit to Japan has been postponed due to the pandemic, warm relations between China and Japan have created good conditions for valuing and developing bilateral relations.

China can also mediate trade negotiations with Japan and South Korea as part of a high-level high-level dialogue with Japan to strengthen the investment agreement and create a free trade agreement. Despite the effects of the COVID 19 pandemic, bilateral trade between China and Japan reached nearly $150 billion in the first half of 2020. Japan`s investment in China amounted to about $2 billion, which is essentially the same level as the previous year. These resistant flows reflect the deep foundations and enormous potential of Sino-Japanese relations. In the context of a paralyzed WTO appeal body, China-U.S. The momentum has shifted more and more towards regional and bilateral free trade agreements (FTAs). In this context, China and Japan should seize the opportunity to adapt their approach to deepening economic cooperation.

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