FTAs form base of regional integration

China, the Republic of Korea and Japan are holding the sixth round of talks for a trilateral free trade agreement (FTA) in Tokyo. The talks follow the conclusion of substantive negotiations between China and the ROK on an FTA during the Asia-Pacific Economic Cooperation meeting in Beijing and the formal completion of negotiations on a China-Australia FTA at the G20 Summit in Brisbane, Australia.

If the two landmark agreements eventually take effect, they will boost the economic integration process in the Asia-Pacific region. And if China, the ROK and Japan ultimately agree to an FTA, the economic cooperative future of the region would become more secure.

China has become the largest trading partner, largest export destination and largest source of imports for the ROK and Australia both, while the ROK is China's third-largest trading partner country. Trade between China and the ROK reached $274 billion in 2013 on the back of South Korean demand for Chinese mechanical, electrical, metal and agricultural products.