China, Japan, South Korea conclude first round trade talks

China, Japan and South Korea concluded a first round of talks on Thursday on securing a free trade pact to bind three economies that account for 20 per cent of global gross domestic product.

The three days of talks in Seoul that began on Tuesday were largely procedural, setting the agenda and scope of future negotiations when substantive trade issues will be discussed.

South Korean Deputy Trade Minister Choi Kyong-lim said the first round had laid a crucial foundation.

“I believe we were successful in establishing trust between negotiators from the three countries, which may play the most important role as negotiations move forward,” Choi told reporters.

With all three countries under new leadership, trade officials hope they can move beyond damaging territorial disputes that have dogged their relations for decades.

The idea of a trilateral free trade agreement (FTA) has been discussed for decades, but diplomats say China is now pushing especially hard for a pact, in part as a counter to US initiatives in Asia.

Washington is leading negotiations on a Trans-Pacific Partnership (TPP) free trade pact that some see as part of the so-called US “pivot” – aimed at reaffirming the US role in Asia in the face of China’s economic rise.