South Korea will host the inaugural meeting next week of an economic forum aimed at boosting its multilateral cooperation with China and Japan and urging the countries' governments to sign a three-way free trade agreement (FTA), hosts of the meeting said Thursday.
The first South Korea-Japan-China Economic and Trade Forum will be held next Friday, involving some 30 scholars and experts from the three countries, according to the Korea International Trade Association (KITA).
The forum was established under an agreement between KITA, the China Center for International Economic Exchanges and a Japanese private think tank, the Japan-China Organization for Business, Academia and Government Partnership.
"The launch of the South Korea-Japan-China Economic and Trade Forum has a special meaning as a first step toward economic integration of the countries through the signing of a Korea-China-Japan FTA, and also toward peace and prosperity in Northeast Asia," KITA said in a press release.
The three countries had long before agreed to seek a three-way FTA, but appear to be away from striking a deal.
A joint government study on the feasibility of a three-way FTA was launched last year and is still under way.
"As the first civilian forum held since the leaders of South Korea, China and Japan agreed to actively pursue an FTA between the three countries, it is expected to significantly contribute to the signing of the FTA in the region," KITA said.