On May 6, the first round of joint research meeting of China, Japan and South Korea on the FTA was held in South Korea’s capital 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 attended the meeting and signed a joint statement saying that the three nations, in light of consensus reached previously, will make efforts to complete the joint research ahead of the trilateral leaders’ meeting of the three countries in 2012.

In 2002, the leaders of the three countries agreed on undertaking non-governmental academic research on setting up a regional free trade zone. From 2003 to 2009, research institutes of the three countries have carried out comprehensive and in-depth studies on the possibility of setting up a regional free trade zone and came to a positive conclusion that the FTA will help eliminate trade barriers, expand regional market and promote economic integration among the three countries to achieve mutual benefit.

During the second trilateral leaders’ meeting in October, 2009, the leaders of the three countries agreed on launching a joint research conducted by the governments, industrial sectors and academic agencies as soon as possible. In the same month, a statement was issued in the sixth economic and trade ministerial meeting held in Thailand, saying that the three countries agreed that the joint research should be kicked off ahead of the third trilateral leaders’ meeting in the first half of 2010.

Source：Xinhua