More than 200 participants of the 8th China-Japan-South Korea Business Summit on Monday praised the resumption of trilateral economic and trade cooperation, pledging efforts to promote cooperation between business communities after a hiatus of over four years.
The business figures from the three neighbouring countries gathered on the sidelines of the 9th trilateral leaders’ meeting held on Sunday and Monday, after a halt due to the COVID-19 pandemic. The last leaders’ meeting was held in Chengdu, China, in December 2019.
Business communities in China, Japan, and South Korea voiced support for trilateral economic cooperation and pledged efforts towards closer collaboration in areas such as digital transition, trade, supply chains, green transition, population ageing, and healthcare.
Guest speakers highlighted population ageing as a common socioeconomic challenge for the three nations, calling for business communities to take a proactive response. They also emphasized the need for cooperation in reducing carbon emissions and developing low-carbon technology.
Noting growing global economic uncertainties, the summit announced the establishment of a working group for a joint trilateral response and preemptive coordination on trade issues, aiming to serve as a catalyst and platform for cooperation.
The business summit was jointly sponsored by the Korea Chamber of Commerce and Industry (KCCI), China Council for the Promotion of International Trade (CCPIT), and Japan Business Federation (Keidanren).
KCCI Chairman Chey Tae-won called for concerted efforts and joint responses to the increasing common challenges facing the business communities, while Keidanren Chairman Masakazu Tokura stressed the need for increased personnel exchanges to promote cooperation.
CCPIT head Ren Hongbin urged the business communities to expand cooperation in areas such as the digital economy, AI, green energy, and healthcare, and invited Japanese and South Korean businesses to participate in the second China International Supply Chain Expo in Beijing.
The trilateral cooperation was launched 25 years ago after the Asian financial crisis, and the business summit was inaugurated in 2009 during the second leaders’ meeting in Beijing. Business representatives expressed confidence in China’s economic outlook and the potential of the trilateral economic ecosystem.
