The Power of Three in Asia -- Beijing Review

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The recent summit meeting between China, Japan and South Korea is noted for a series of agreements ranging from investment promotion to enhancing cultural exchanges and strengthening agricultural and environmental cooperation

Three's Company

China, South Korea and Japan agreed to launch formal negotiations on a trilateral free trade area (FTA) later this year. The China-South Korea-Japan FTA can promote the economic integration of East Asia and elevate the global status of the region. The trilateral FTA is a crucial step for East Asian economic integration

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A Three-Way Partnership
The recent China-Japan-South Korea summit bolstered mutual understanding between the three East Asian nations, but concrete actions are needed to implement agreements reached at the summit

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Despite rickety past relationships, it's never too late for China and Japan to make amends. The two neighbors seem willing to follow this adage, although there is still much to be done to resolve the myriad disputes between them

Summit Outcomes

At the Fifth Trilateral Summit Meeting Among China, South Korea and Japan in Beijing on May 13, the three countries reached a series of agreements, of which the highlights are as follow:

- Advancing cooperation in non-traditional security issues, such as piracy, energy security, cyber security, communicable diseases, terrorism and the proliferation of weapons of mass destruction;

- Launching trilateral free trade agreement negotiations within this year;

- Welcoming the signing of the Trilateral Agreement for the Promotion, Facilitation and Protection of Investment;

- Promoting investment by foreign reserve authorities in one another's government bonds;

- Strengthening cooperation in dealing with dust and sandstorms, tackling trans-boundary air pollution, the access and benefit sharing of genetic resources and the exchange of environmental protection technologies;

- Promoting cooperation in agriculture, sustainable forest management, combating desertification and wildlife conservation;

- Further easing visa requirements and expanding sister/friendship city exchanges to achieve the target of 26 million tourist visits among the three countries by 2015; and

- Supporting ASEAN's leading role in East Asian cooperation and make joint efforts to help the development of ASEAN countries.

(Source: China's Foreign Ministry)

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