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  • » 05/05/2005, 00.00

    CHINA – JAPAN – SOUTH KOREA

    China seeks free trade zone with Japan, South Korea



    Tokyo (AsiaNews/Agencies) – China wants to set up a free trade zone with Japan and South Korea, according to Japanese daily Nihon Keizai Shimbun.

    For the paper the move is a step to ease tensions between Tokyo and two of its major trading partners in the wake of a recent row between China and Japan and the more long-standing grievances against Japan in both China and South Korea dating back to World War II.

    China is likely to propose that the three countries create a new study group comprised of members from government, academia and the business community to study issues related to a free trade pact, the paper reported.

    The proposal could be made as soon as this Saturday, May 7, when foreign ministers of the three countries meet in Kyoto on the sidelines of a meeting of Asian and European foreign ministers.

    Japan and South Korea are already discussing bilateral free trade initiatives, but Tokyo seems reticent vis-à-vis China because of concerns about free trade impact on its domestic agriculture, which is protected by high custom tariffs, despite a bilateral trade flow worth US$ 212 billion in 2004.

    Japan has been aiming instead for an investment pact among the three to regulate investment flow and improve the transparency of investment rules in China.  (PB)

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    See also

    15/01/2007 PHILIPPINES – ASEAN
    ASEAN members fear Chinese juggernaut
    The economies of ASEAN’s ten member states are experiencing an invasion of Chinese goods and services. Many are concerns that any new free-trade zone will favour India but especially China. Participants agree to greater anti-terrorism cooperation. Today 2nd East Asia Summit opens.

    14/05/2012 CHINA-JAPAN-S.KOREA
    Beijing, Seoul and Tokyo hold talks over free trade zone
    The new zone would unite a market of 1.5 billion people, with a GDP growth of 3%. In 2011 trade between the three countries amounted to 690 billion U.S. dollars, 130 billion in 1999. Analysts expect frictions with the United States over the proposed Trans-Pacific Partnership. Agreement on the reduction of tension in the region and the Korean peninsula.

    21/11/2011 CHINA – US – KOREA
    Beijing to entice Seoul and Tokyo with an anti-US free trade zone
    In response to Washington’s Trans-Pacific proposal last week, China wants to persuade Korea and Japan to set up a trilateral free trade zone. However, old disagreements and hatreds are a major obstacle.

    23/03/2009 CHINA
    "Confrontation" heating up in South China Sea
    China says that it considers closed "the incident" with the U.S. ship on March 7, off the island of Hainan. But meanwhile, it is sending its own ships to the South China Sea "on patrol," arousing the anger of the Philippines and other countries. Experts: if there is no cooperation, there is the risk of a serious confrontation.

    23/05/2011 JAPAN – CHINA – KOREA
    Tokyo, Beijing and Seoul to work together for everyone’s benefit
    Naoto Kan leads Chinese PM Wen and South Korean President Lee on a visit to the area hit by quake and tsunami. He pledges a new phase in relations with Japan’s neighbours and “maximum transparency” in sharing information on nuclear dangers. Beijing and Tokyo sign trade deal.



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