Encouraging Trade is Key Outcome of China-Korea-Japan Trilateral
Expanded trade among China, the Republic of Korea (ROK) and Japan was one of the key topics during the Fifth Trilateral Summit Meeting among them that concluded May 14 in Beijing. The Joint Declaration on the Enhancement of Trilateral Comprehensive Cooperative Partnership included the following trade-related items:
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
- They endorsed the outcome of the Joint Study for a Free Trade Agreement among the three countries. (Government ministers earlier endorsed an FTA among the three countries. See ITT Online Archive 12050724.) The statement said the FTA "would contribute to the economic growth and prosperity of the three countries," and they "should immediately start preparation work including domestic procedures and working level consultations.
- The statement "welcomed the signing of the Trilateral Agreement for the Promotion, Facilitation and Protection of Investment."
- It "encouraged our customs authorities to actively implement the Action Plan of the Tripartite Customs Cooperation as revised in 2011, and continue to bolster pragmatic cooperation in IPR protection, customs procedures and trade facilitation, mutual recognition of Authorized Economic Operator (AEO), customs enforcement and intelligence as well as human resource development."
- The statement "reaffirmed that the measures taken on the safety of products should comply with the requirements of WTO/SPS and WTO/TBT Agreements, and the measures would be taken to improve human health, animal health and phytosanitary situation and to promote the sound development of trade among the three countries."
- It "encouraged the three countries to put in place consultation and cooperation mechanisms for quality inspection and quarantine to promote and contribute to the sound development of trade."
- The statement endorsed progress in developing sea-land combined transportation and establishing the Northeast Asia Logistics Information Service Network. It "encouraged the comprehensive advancement of sea-land combined transportation cooperation in the region and expedited expansion of the network services."