China, Japan and South Korea called for a reform of the World Trade Organization (WTO) in a joint statement issued after the trilateral summit on Tuesday, amid global tariff wars and US threats to pull out of the international organization
BEIJING (Pakistan Point News / Sputnik - 24th December, 2019) China, Japan and South Korea called for a reform of the World Trade Organization (WTO) in a joint statement issued after the trilateral summit on Tuesday, amid global tariff wars and US threats to pull out of the international organization.Earlier in the day, Chinese Premier Li Keqiang, South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe gathered in the southwestern Chinese city of Chengdu to discuss trilateral cooperation and regional issues. During the summit, Moon and Abe also had their first one-on-one meeting since the onset of a trade dispute between Seoul and Tokyo.
"Regarding each other's development as opportunities, we will synergize our development strategies and raise our cooperation to higher levels. To this end, the three countries will strive to realize a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment and to keep our markets open. We reaffirm our support for the necessary reform of the World Trade Organization to improve its functions," the statement, posted on the Chinese Foreign Ministry's website, said.
The sides reiterated their commitment to multilateralism and joint work on "enforcing existing international rules" as well as pledged to "continue to enhance cooperation and show leadership under the frame of G20."
The three nations also agreed to "speed up" the talks on the trilateral free trade agreement.
In addition, the statement touched upon the situation on the Korean Peninsula, saying that "only the international cooperation including dialogue and diplomacy" could bring complete denuclearization and sustainable peace in the region.
