RCEP consensus reached during China-Japan dialogue

Business executives and former officials from China and Japan reached a consensus during a bilateral dialogue to jointly implement the Regional Comprehensive Economic Partnership (RCEP) and to promote a higher-level free trade agreement (FTA) between China, Japan and South Korea as soon as possible.

That was an achievement of the sixth round of dialogues between Chinese and Japanese corporate leaders and former officials, virtually co-held by the China Center for International Economic Exchanges (CCIEE) and Japan Business Federation, on Wednesday.

Their agreement will facilitate the integration of regional economic development and foster cross-border trade and investment, according to participants of the dialogue.

In the aftermath of the COVID-19 pandemic, China and Japan are expected to jointly improve the trade and investment environment, and strengthen bilateral ties of industrial chain and supply chain services. Other areas for deepening cooperation include the digital economy, healthcare and green development, experts from the two sides told China Daily on Thursday.

Zeng Peiyan, chairman of CCIEE, said during the dialogue that the two sides should seize the opportunity to enhance mutual trust and jointly safeguard the correct developmental direction of bilateral relations.

Bilateral cooperation needs to be strengthened in areas of fighting against the COVID-19 pandemic, scientific and technological innovation, digital economy, green development, and cultural exchanges, according to Zeng.

Further progress in promoting a China-Japan-ROK free trade zone and the CPTPP (the Comprehensive and Progressive Agreement for Trans-Pacific Partnership) should be put on the agenda, the think tank leader highlighted.