Korea-China-Japan FTA discussions set for March 26

The first round of working-level negotiations on a free trade agreement among Korea, China and Japan will be held on March 26 in Seoul, a government official said yesterday.

The trilateral trade pact, if completed, would be the first trade agreement of the Park Geun-hye government.

The three countries would create the world’s third-largest economic bloc after Nafta and the EU with 14 trillion won ($12.9 billion) in combined GDP and 1.5 billion population.

According to sources, the Ministry of Foreign Affairs and Trade recently reported to Park about the first negotiation date, and Park agreed. She considers the trilateral FTA a significant cornerstone for diplomatic and economic relations with the two Northeast Asian countries, the government official said.