FTA to promote world trade development (2)

The level of cooperation between China, Japan and South Korea is far lower than the regional cooperation of North America and European Union and even lower than the Association of Southeast Asian Nations (ASEAN).

Therefore, the economic and trade cooperation between the three countries still has great development potential.

After completion of the trilateral FTA, a large market with a population of more than 1.5 billion will take shape. It will bring a win-win situation for the three countries, enlarging the scale of the trilateral trade and cooperation, promoting the economic development and improving the overall competitiveness.

Japan and South Korea have an obvious competitive advantage in resources and technology-intensive industry while China has an advantage in resources and labor-intensive industry.

The establishment of trilateral FTA will effectively reduce the trade and investment barriers, lower the cost, strengthen cooperation of industrial investment, give full play to the role of the integrated market and further improve the trilateral trade, the scale of production and economic benefits.

Qingdao has unique geographical advantages in economic and trade cooperation with Japan and South Korea, both of which has set up Consulate General in Qingdao, rendering Qingdao the conditions to walk in the forefront in the strategic implementation of China-Japan-South Korea Free Trade Area and to realize leap-forward development of a century.

We recommend:
China's first rail to 'sea of death' starts operation	Sales of Samsung's Galaxy Note 2 tops 5mmark	Beijing-Guangzhou high-speed rail to open
China Telecom starts iPhone 5 pre-orders	Shanghai Center Tower to rise over 400m	Self-owned brands account for 11% of exports
HK's MTR buys first China-made locomotives	Staff members of bus company sort notes, coins	Construction of 6th Yellow River bridge underway