ID :
308358
Tue, 11/26/2013 - 07:02
Auther :

Japan, China, S. Korea Begin 3rd Round of FTA Talks

Tokyo, Nov. 26 (Jiji Press)--Japan, China and South Korea on Tuesday started the third round of talks in Tokyo for concluding a free trade agreement among them. Participants are slated to discuss issues related to tariff cuts and elimination, informed sources said. It is the first time that an FTA meeting among the three Asian countries is held in Japan. The first round of talks took place in Seoul in March and the second round in Shanghai between late July and early August. The envisaged three-way FTA "will play an important role" for trade and investment liberalization in the Asia-Pacific region, Yasumasa Nagamine, Japanese deputy foreign minister for economic affairs and the country's top negotiator in the FTA talks, said at the outset of the Tokyo meeting. At the ongoing talks, Japan hopes to make progress in such issues as whether a common numerical target should be set on the proportion of items for which tariffs should be eliminated. At a meeting held in Seoul in October in preparation for the third-round talks, Japan, China and South Korea agreed that they will aim to strike their FTA deal before the conclusion of talks on a proposed Regional Comprehensive Economic Partnership for free trade. The RCEP is being negotiated among 16 countries including Japan, China and South Korea, and the 10 member states of the Association of Southeast Asian Nations. They are aiming to conclude the talks by the end of 2015. END

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