China, S Korea, Japan Trade Ministers See Investment Pact in 2010

China trade minister said the three nations are conducting a joint research by governments, businesses and academic circles, and investment negotiations are also moving forward.

Trade ministers of China, South Korea and Japan are targeting to conclude an investment agreement among the three countries this year, in a bid to promote tripartite economic and trade cooperation.

The decision was made during the seventh tripartite meeting on Sunday, with a statement concluding the meeting.

"We reaffirm the importance of the trilateral investment framework, which will be instrumental to further strengthening economic partnership among the three countries," said the statement.

Regarding issues related to a three-way free trade area, China trade minister Chen Deming said the three nations are conducting a joint research by governments, businesses and academic circles, and investment negotiations are also moving forward.

He and his counterparts, Trade ministers Kim Jong-Hoon of South Korea and Masayuki Naoshima of Japan agreed to submit the reseach to the three-nation summit on May 29 and 30, which will be attended by China's Premier Wen Jiabao, South Korea's President Lee Myung-Bak and Japan's Prime Minister Yukio Hatoyama.

The research was launched early in May this year, and is expected to be concluded by the end of 2010.