China, Japan, S.Korea to try to sign RCEP by the end of 2020

Source:Global Times Published: 2020/5/24 17:28:40

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The joint pandemic response efforts of China, Japan and South Korea in fighting COVID-19 have set an example for the world, Chinese State Councilor and Foreign Minister Wang Yi said Sunday at a press conference on the sidelines of the annual national legislative session, adding that the three countries will try to sign the Regional Comprehensive Economic Partnership (RCEP) treaty by the end of 2020.

"It is necessary to adhere to multilateralism and free trade, reduce and exempt tariffs, remove barriers, and open markets to each other," Wang said of China-Japan-South Korea ties and the post-pandemic regional economic recovery. 

The three countries needed to "strengthen cooperation in health care, smart manufacturing, 5G and other fields to create new economic growth points," Wang said. 

"We should also speed up China-Japan-South Korea free trade negotiations, and strive to sign a regional comprehensive economic partnership agreement within the year to deepen economic integration."

Regional multilateral mechanisms can prevent financial risks and enhance economic resilience, the Chinese foreign minister further said.

Posted in: DIPLOMACY

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