Chinese premier makes four-point proposal on deepening economic cooperation with S. Korea, Japan

Jeju, South Korea, May 30 (AFP) – Chinese Premier Wen Jiabao, Sunday demanded that South Korea and Japan to continue efforts to improve cooperation and economic integration among the three countries of Asia.
Considered the second business dinner in China and Japan and South Korea in this southern island resort in South Korea, Wen said that only by deepening mutually beneficial cooperation, the three countries to promote their own development and promote cooperation regional stability and prosperity, and global banks to recover the global economy.
Wen spoke highly of the three countries in the implementation of the global financial crisis and called for greater efforts to better respond to new challenges and opportunities for the world economy after the crisis period.
He made a four-point proposal on deepening regional economic cooperation.
First, expand regional trade cooperation. The three countries should seriously consider the feasibility of establishing a trilateral free trade area and try to finish this important task in 2012. It should also strengthen cooperation in areas such as logistics, customs, quality control and to actively pursue the Doha negotiations of the WTO, and oppose any form of protectionism.
Second, to jointly establish a healthy environment for investment. In the current negotiations on an investment agreement, the three countries, taking into account the concerns and interests of each and also be flexible to enable the achievement of a balance of results, pragmatic and mutually beneficial.
Thirdly, to explore sustainable development models. The three countries need to improve global cooperation in the development of new technologies to reduce energy consumption and increase energy efficiency.
Fourth, to preserve joint regional economic stability. The main priorities for now to implement and improve the multilateral mechanism of Chiang Mai and active efforts to promote the development of Asian bond market.
Who will be in South Korea for a three-day visit is also an annual trilateral meeting with South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama.