Seminar & Forum Congratulatory Remarks by SG SHIN Bong-kil at International Seminar on Trilateral FTA 2012.09.19

Congratulatory Remarks at the International Seminar on Trilateral FTA co-organized by the Trilateral Cooperation Secretariat and Korea Institute of International Economic Policy 

The Westin Chosun Hotel, Seoul, ROK
September 19, 2012

Distinguished Guests,
And Ladies and Gentlemen,

It is my great pleasure and privilege to deliver congratulatory remarks at this important international seminar.

It is opportune as well as meaningful, I believe, for all of us here to discuss and present a future framework of the trilateral economic cooperation at this very moment when our three countries are experiencing difficult times.

It might seem that the attempt of Trilateral FTA is untimely. However, the trilateral framework should be a sanctuary from bilateral contamination. This is how the trilateral cooperation is developed, and this is the raison d’être of the establishment of our Secretariat. Our Secretariat is the evidence of the strong political will of our three countries to cooperate regardless of any difficulties. 

Ladies and Gentlemen,

As you know, Korea, China and Japan now occupy a leading position in the world’s economy. The total population of the three countries, which is 1.5 billion, accounts for 21.9% of the world’s total population. The three countries’ share of the world’s total GDP accounts for 20%. Each of the three countries is a key trading partner of the other two. It is plain to see that the cooperation and integration of these three major economies would yield more economic benefits to all the three countries. This fact itself provides a rationale for the three countries to create FTA among our three countries. 

Moreover, we should bear in mind that the world’s economy today is far more globalized and all countries in the world cannot avoid being incorporated into the competition of this global economic vortex. We can attain common prosperity only through supporting a free, open and rule-based multilateral trading system.

East Asian countries are not an exception. Under this global economic system, private sectors in East Asia have already built cross-border supply chains and established highly developed industrial division of labor across the region. East Asian economies are closely interdependent with each other. Thus the Trilateral FTA is a matter of smoothing and upgrading the already ongoing economic integration among the three countries. It is the time for the governments to catch up the private sector’s efforts and do its part. If we have a vision of co-prosperity in Asia, the Trilateral FTA is a must. 

Ladies and Gentlemen,

Over the past several years, the three countries have steadily established cooperative ties in a wide range of fields despite occasional political conflicts. Currently, there are 18 ministerial level meetings, 50 cooperation mechanisms and 100 cooperative projects in a range of fields.

Without any doubt, realizing the Trilateral FTA will be a pillar for the trilateral cooperation and will play a leading role in building East Asian Community. European Union also started from economic integration. Europe has become ONE, overcoming the long history of conflicts. The Trilateral FTA as well, will certainly play a key role for regional peace, stability and the co-prosperity in the future. Thus, the Trilateral FTA is not only about economy but also about comprehensive platform in East Asian Community building.

I am looking forward to a lively discussion so that our three governments can draw broad support from many people in all levels of society to launch the negotiations of the FTA within this year as agreed by the three countries, and ultimately set a milestone on the road to strengthening the trilateral cooperation. 

Thank you. 

Amb. SHIN Bong-kil
Secretary-General
Trilateral Cooperation Secretariat

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