S Korea, China, Japan Study Joint FTA

by Mary Swire, Tax-News.com, Hong Kong

07 May 2010

China, Japan and South Korea have held, in Seoul, the first round of a joint study, involving government officials, industrialists and academics, on their proposed trilateral free trade agreement (FTA).

The China, Japan and South Korea Economic and Trade Council of Ministers was formally launched in September 2002. Between then and 2009, research institutions within the three countries implemented a comprehensive and in-depth analysis of the feasibility of establishing the trilateral FTA.

As that analysis came to a positive conclusion - that the establishment of the FTA could eliminate trade barriers, expand the regional market and promote the economic integration of the three countries – a tripartite summit in October last year decided that a joint study of the FTA should be started in the first half of 2010.

A preparatory meeting between the three countries was then held in January this year to discuss the terms of reference and work plans involved, and, finally, the first round of the joint study has now been held. Following completion of the joint study, government-level negotiations may begin after the next trilateral leaders' meeting of the three countries in 2012.

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