|
Wen said the regional pact
-- which exists in several other parts of the world -- would benefit the East Asian countries at a time of rising trade protectionism around the world. "The establishment of (a free trade area) will unleash the economic vitality of our region and give a strong boost to economic integration in East Asia," Wen said. Noda said the economic cooperation among Japan, China and South Korea was crucial in ensuring the Asia-Pacific region remain the growth center of the world economy. Trade among the three countries grew to $690 billion in 2011, and China is the biggest trade partner for both South Korea and Japan, according to a Chinese government report on the three-nation relationship. The investment agreement -- the first such document among the three nations
-- will stimulate further investment and promote additional trade, the Chinese Commerce Ministry said in a statement.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
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