The Ministers of Trade from South Korea, Japan, and China met in Seoul and agreed to continue cooperation in the economic and trade sectors. This marks the first Ministerial meeting of the three countries in six years since the last gathering in Beijing, China, in 2019, and it has been a decade since they met in Seoul.

According to the Ministry of Trade, Industry and Energy on the 30th, Minister Ahn Duk-geun, Minister of Economy, Trade and Industry of Japan, Yoshihiro Muto, and Director General Wang Wentao from China’s Ministry of Commerce held the 'Japan-Korea-China Economic and Trade Ministers' meeting' at the Korea Chamber of Commerce and Industry in Seoul.

Minister Ahn Deok-geun of the Ministry of Trade, Industry and Energy (center), Minister Yosuke Matsumoto of Japan's Ministry of Economy, Trade and Industry (left), and Minister Wang Wentao of China’s Ministry of Commerce are taking a commemorative photo at the 13th Korea-Japan-China Economic and Trade Ministers' Meeting held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on Nov. 30. /Courtesy of Yonhap News Agency

The Ministry noted, 'This meeting is to discuss follow-up actions from the Japan-Korea-China Summit held last May,' adding, 'Secretary General Lee Hee-seob from the Trilateral Cooperation Secretariat (TCS) also attended the meeting.'

At this meeting, the Ministers from the three countries reaffirmed the need for cooperation among them for the prosperity and stability of the regional and global economies and agreed to continue to expand cooperation in the economic and trade sectors.

Specifically, the three nations agreed to cooperate closely on issues related to the multilateral trade system, such as World Trade Organization (WTO) reform and the addition of new members to the Regional Comprehensive Economic Partnership (RCEP), as well as to advance the Japan-Korea-China Free Trade Agreement (FTA) at a comprehensive and high level. They also congratulated the successful hosting of the 9th Harbin Winter Asian Games in February and agreed to cooperate for the success of international events to be held in the three countries, including the Osaka-Kansai Expo in 2025 and the Asia-Pacific Economic Cooperation (APEC) in Korea in 2025 and China in 2026.

In addition, they agreed to closely cooperate in areas of regional cooperation such as ▲ creating a predictable business environment ▲ stabilizing supply chains ▲ strengthening communication on export controls ▲ enhancing industrial and energy cooperation to achieve green and digital economies ▲ and holding the Yellow Sea Economic and Technology Exchange Conference in November in Daejeon.

Meanwhile, the next Japan-Korea-China Ministerial meeting is scheduled to be held in Japan, which will serve as the next chair country, aligned with the schedule agreed upon by the three nations.