Chinese Premier Li Qiang Holds First Trilateral Summit With Japan And South Korea In Four Years To Discuss Renewed Relations

Chinese Premier Li Qiang praised the renewal of relations with Japan and South Korea during their first trilateral talks in four years on Monday.

What Happened: The summit, held in Seoul, aimed to revive trade and security dialogues that have been stalled by global tensions, Reuters reported. Li met with South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida to discuss resuming three-party free trade agreement negotiations, which have been on hold since 2019.

Li emphasized the need to separate politics from economic and trade issues, calling for an end to protectionism and the decoupling of supply chains. He stated that the close ties and cooperative spirit among the three nations would remain unchanged.

Despite the ongoing rivalry between Beijing and Washington, and tensions over Taiwan and North Korea’s nuclear program, the meeting itself is seen as a significant step in improving relations among the three countries.

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Yoon and Kishida have been working closely with the United States on military and other measures, while U.S. President Joe Biden has imposed tariffs on Chinese imports. Donald Trump, a contender in the upcoming presidential election, has proposed even higher tariffs on Chinese goods.

On the issue of North Korea, Yoon and Kishida urged Pyongyang to halt its planned rocket launch, while Li called for restraint and the prevention of further complications on the Korean peninsula.

The leaders also attended a forum with top business executives from the three countries, agreeing to support trade and stabilize supply chains despite global challenges. The summit follows separate bilateral talks held a day earlier, where agreements were made to resume free trade talks and discuss security issues.

Why It Matters: The summit comes at a time of heightened tensions in the region. Just days before the meeting, China conducted military drills near Taiwan as a warning against external interference.

Moreover, the significance of China in the global economy cannot be understated. According to JPMorgan APAC CEO, “You can’t ignore China,” highlighting the necessity for businesses to engage with Beijing despite geopolitical challenges.

Adding to the complexity, North Korea recently informed Japan about its plan to launch a satellite rocket, believed to be a spy mission. This development further complicates the security landscape in the region.

Earlier this year, Kim Jong Un declared that North Korea has the lawful right to destroy its “primary enemy,” South Korea, emphasizing that peace is not something to be begged for.

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Image by photocosmos1 via Shutterstock

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari