At a trilateral summit in Seoul on Monday, China called on Japan and South Korea to reject “protectionism” and maintain free trade.
Chinese Premier Li Qiang said he was against turning economic and trade issues into “political games or security issues.” Chinese state media reportedwhen he met Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk-yeol.
Li said the three countries should view one another as “partners and development opportunities.” Xinhua reported this.
This is the ninth trilateral summit of its kind between China, Japan and South Korea, but the primary in greater than 4 years. During this summit, the 2 countries aim to revitalize their economic and security relations.
In a Joint statement In a press release released after the summit, the three heads of state agreed to “institutionalize” the tripartite cooperation by holding regular trilateral summits and ministerial meetings.
They also agreed to proceed talks to “accelerate negotiations” on a free trade agreement that may be “fair, comprehensive, high quality and mutually beneficial.”
The summit is crucial for stabilizing relations between the three countries, even when it would not “result in a concrete initiative,” said Stephen Nagy. Professor on the International Christian University in Tokyo.
China desires to lure each South Korea and Japan away from US initiatives, he told CNBC's “Capital Connection” on Monday.
“Under President Biden, there have been tremendous successes in bringing Seoul, Tokyo and Washington together through the Camp David principles,” he said, adding that China was suspicious of this cooperation and desired to drive a “wedge” between the United States, South Korea and Japan.
The summit comes at a time when regional security is on the forefront in light of nuclear and missile threats from North Korea. Shortly before the summit, Pyongyang announced plans to launch a missile.
The three countries jointly called for the denuclearization of the Korean peninsula and promised to make “positive efforts for a political solution” to the difficulty.
Both Japan and South Korea are aware that China has “very little influence over North Korea,” Nagy said.
“If there is to be any kind of cooperation in curbing weapons proliferation from North Korea, it will not come specifically from China,” but through cooperation amongst themselves and with the United States, he added.
In economic terms, the countries agreed to create a level playing field for trade and investment worldwide.
“We agree that communication in the area of export controls must continue,” the statement said.
China is a large marketplace for each countries that they can’t ignore, says Tobias Harris, deputy director of the Asia program on the German Marshall Fund of the United States.
“It's a big market and I don't think any of them are in a position to give up China as a market,” he told CNBC's “Squawk Box Asia” ahead of Monday's meeting, adding that it would be a challenge going forward.
On the eve of the summit, Li held bilateral talks with the heads of state and government of South Korea And Japan. He also called on each countries to keep up an unhindered supply chain and protect the worldwide free trade system.
Japan's Kishida He said he had raised “serious concerns” with Li during their talks over the weekend about issues corresponding to the situation within the South China Sea.
He also stated that Japan is closely monitoring relevant developments in Taiwan, including China's military activities near the island. The Japanese Prime Minister stressed that peace and stability across the Taiwan Strait are extremely vital to the international community, including Japan.
Both Beijing and Tokyo are attempting to seek out a method to keep their relations stable, Harris said.
However, given Japan's increased support for Taiwan and its cooperation with the United States, the safety situation makes it “very difficult to decouple economic relations between Japan and China from all these developments,” he added.
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