Beijing urged Tokyo to accelerate the dialogue on trade issues

© RIA Novosti / Vladimir Astapkovich in fotoracconti the photo of heads of delegations — participants of the G20 summit in Argentina. Archival photoBeijing urged Tokyo to accelerate the dialogue on trade issues© RIA Novosti / Vladimir Astapkovich the image Bank

Chinese President XI Jinping during the bilateral meeting on the sidelines of the G20 in Argentina, called on the Prime Minister of Japan Shinzo Abe to accelerate negotiations and come to agreement on the regional Comprehensive economic partnership (VREP, RCEP) and the trilateral free trade agreement with South Korea, said in a statement on the website of the Chinese foreign Ministry.

«In the new circumstances, China and Japan have appeared much more favourable conditions for the development of relations than before, and the potential economic and trade pragmatic cooperation is enormous. Both sides should fully implement the existing mutually beneficial advantages, to deepen and expand cooperation,» said XI.

In his words, «the parties shall endeavour to as soon as possible to agree on a Comprehensive regional economic partnership (VREP, RCEP) and the trilateral free trade agreement between China, Japan and South Korea».

RCEP involves the signing of a free trade agreement between the 10 ASEAN members (Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam) and the six partner countries of the ASEAN free trade agreements (Australia, China, India, Japan, South Korea, New Zealand). This Association in absentia competed with the TRANS-Pacific partnership, which previously involved the United States.

Source