A survey by academic institutions in China, Japan and the
Republic of Korea (ROK) showed that most enterprises in the region
support the establishment of a free trade area (FTA) between the
three countries.
The survey was conducted by the Chinese Development Research
Center of the State Council (DRC), the National Institute for
Research Advancement (NIRA) of Japan and the Korea Institute for
International Economic Policy (KIEP) in the April-October period
this year.
DRC Director General of the Foreign Economic Relations
Department Zhang Xiaoji said Tuesday at a China-Japan-Korea
business forum that the survey showed 70-80 percent of enterprises
were in favor of the FTA and hoped talks could begin within three
years.
Hirai Katsuhiko, a senior official of the Japan Business
Federation, said the FTA will forge an economy equal to the North
America Free Trade Area (NAFTA) and the European Union (EU).
The tariff will be reduced to under 5 percent between the three
countries and that will facilitate trilateral trade, Hirai
said.
Chairman Lee Chong Hoon of the New Asia Economy and Technology
Federation said Asia needed a trade system like the NAFTA and EU.
He urged the three countries to enhance cooperation to speed up
progress.
Leaders of China, Japan and ROK initiated feasibility research
on the FTA in 2002. Chinese Premier Wen Jiabao said China supported
further research during the fifth China-Japan-ROK leaders' meeting
held last October in Bali, Indonesia.
(Xinhua News Agency November 19, 2003)