METI
Font Size Change
S
M
L
Easy Web Browsing tool

The Eleventh Japan-China-ROK Economic and Trade Ministers’ Meeting Held

On October 29 (Sat.), 2016, the Eleventh Japan-China-ROK Economic and Trade Ministers’ Meeting was held in Tokyo. The meeting was chaired by Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, and attended by H.E. Mr. Gao Hucheng, Minister of Commerce, the People’s Republic of China, and H.E. Mr. Joo Hyunghwan, Minister of Trade, Industry and Energy, the Republic of Korea. Following the meeting, Minister Seko held bilateral meetings respectively with Minister Gao, China, and with Minister Joo, ROK.

1. Eleventh Japan-China-ROK Economic and Trade Ministers’ Meeting

  • On October 29 (Sat.), 2016, the Eleventh Japan-China-ROK Economic and Trade Ministers’ Meeting was held in Tokyo. The three ministers discussed a variety of issues, including the trilateral trade and investment relationship, the trilateral FTA and RCEP, trilateral cooperation in the fields of improving connectivity of supply chains, the Olympic and Paralympic Games, e-commerce, LNG, the fourth-party-market, and regional economies. Finally, they adopted a joint statement.
  • On RCEP and the trilateral FTA, the ministers confirmed that the three countries will make greater efforts to accelerate negotiations and that they will jointly play a leading role in achieving modern, comprehensive, high-level, and mutually beneficial agreements. In addition, they also agreed that the three countries will lead the RCEP negotiations to realize high-quality and commercially meaningful outcomes in the areas including trade in goods, trade in services, investment, and other issues, and that they will also intensify our efforts on the trilateral FTA negotiations by pursuing the trilateral FTA with its own values.
  • At the meeting, Minister Seko stated that, in order to achieve the early conclusions of RCEP and the trilateral FTA negotiations with high-level outcomes, the ministers should give specific guidance to officials, and stated that there are some opportunities for coordination at the political level as well.
  • In light of the changes in the circumstances surrounding trade and investment, Minister Seko also proposed to establish, in parallel with the current negotiations, a public-private joint council in order to start discussions on the 21st century style new rules in a variety of fields, including trade in services, investment, digital trade, competition, and custom facilitations.


Scenes from the Eleventh Japan-China-ROK Economic and Trade Ministers’ Meeting

2. Japan-China bilateral meeting

A scene from the meeting
(Minister Seko, left, and Minister Gao, right)

At the Japan-China bilateral meeting, both sides agreed that they will further advance cooperation in the field of economy, for example, by holding the Japan-China Energy Conservation and Environment Forums. They also agreed on the conclusion of the negotiations of the WTO Environmental Goods Agreement (EGA) by the end of 2016, the early conclusion of the RCEP, and other issues. In addition, both sides agreed on the establishment of a new global forum in the early stage to discuss issues regarding excess steel capacity, an effort agreed to by member states at the G20 meeting.

3. Japan-ROK bilateral meeting

A scene from the meeting
(Minister Seko, left, and Minister Joo, right)

At the Japan-ROK bilateral meeting, both sides agreed that they will accelerate the conclusion of comprehensive and high-level RCEP and the trilateral FTA. The ROK reacted positively to the proposal of establishing a public-private joint council. In addition, both sides engaged in deep discussion concerning a fortified Japan-ROK relationship, including periodical convening of Japan-ROK economic and trade ministerial dialogues and cooperation in the area of LNG.

Release date

October 31, 2016

Division in Charge

Northeast Asia Division, Trade Policy Bureau

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
Copyright Ministry of Economy, Trade and Industry. All Rights Reserved.