Bank Of Baku

China, S Korea and Japan set to begin free trade talks

China, S Korea and Japan set to begin free trade talks
# 14 May 2012 11:32 (UTC +04:00)
Baku - APA-Economics. Chinese President Hu Jintao has met the leaders of South Korea and Japan, as the three countries agreed to begin negotiations on a free-trade pact, APA reports quoting BBC.

The leaders were meeting in Beijing for two days of trilateral talks.

Although tensions with North Korea were discussed on Sunday, there was no mention of it in a joint statement issued on Monday.

China is the biggest trading partner of both Japan and South Korea.

The three leaders also signed a trilateral investment agreement, which is seen as a stepping stone to a free-trade zone.

However as with other free-trade agreements between countries, this one could still face long negotiations and trade barriers, observers say.
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