China, South Korea and Japan on Tuesday kicked off their third round of talks toward forming a trilateral free trade area (FTA), with fields like intellectual property and goods and services to be covered.

The three countries launched the free trade talks last year and held the first meeting in late March in Seoul this year. The second round of talks was held in Shanghai in July.

The countries agreed in a preparatory meeting in Seoul in October that they should conclude the trilateral free trade talks before the end of 2015.

If the free trade agreement achieved, it will group the countries that accounted for about 20 percent of the world's gross domestic product.