Trade ministers from Japan, China and South Korea have formally declared that negotiations will start early next year over a trilateral free-trade agreement, setting aside territorial clashes to focus on potential economic benefits.
The announcement Tuesday paves the way for the creation of a major trading bloc among the three Asian neighbors, which together account for about 20 percent of global economic output.
According to the Foreign Ministry, a preliminary meeting will be held in Japan in February, and the inaugural meeting for the negotiations will take place in South Korea around late March to early April.