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. Currently, a U.S.-led block of free trade in developed economies is beginning to take shape. The United States and Japan reached a trade agreement on tariff concessions in October 2019. Members of the CPTPP such as Canada, Australia and New Zealand have expressed interest in joining the pact, reinforcing the prospect of a trans-Pacific and transatlantic free trade agreement with more than 40 countries in Asia, Europe and North America. In 2007, China, Japan and South Korea began negotiations for a trilateral investment agreement. The agreement was officially signed in May 2012. In November of that year, the three countries formally began negotiations for a free trade agreement between China and Japan and South Korea. The free trade agreement between China and Japan and South Korea is a proposed free trade agreement between China, Japan and South Korea.
The free trade agreement between China and Japan and South Korea was proposed in 2002. Negotiations on the agreement were launched in 2012. [1] The three nations account for up to 19.6% of the world economy. The first formal discussions on this subject took place in Seoul from 26 to 28 March 2013. Further discussions took place in China and Japan during 2013 and more were planned for early 2014. Two-way trade between South Korea and China totaled $230 billion in 2013. [1] In January 2012, the South Korean and Chinese presidents announced that they were moving towards negotiating a bilateral agreement between the two countries. In March 2012, the three countries concluded an investment agreement between them, seen as a step towards a broader free trade agreement. In May 2012, China and Korea held their first round of negotiations for a free trade agreement in Beijing. 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 standard rules for the creation of a RCEP Plus free trade agreement. – fta.mofcom.gov.cn[6] It has been speculated that negotiations will accelerate on the basis of the US government`s current “trade war” with China.