China-Japan- S Korea regional free trade talks to start in 2012

The ''Big Three" economic giants of east Asia - China, Japan, and Republic of Korea (ROK) as South Korea is officially referred to - expect to start negotiations on a free trade agreement (FTA) in the first half of this year, China Daily reported today citing sources.

Analysts say slowing demand from Europe and US last year on account of the global crisis may have triggered China's endeavour to reactivate the FTA talks last year to boost trade with Asian countries to ensure a steady economic growth.

FTA offers a new potential source of growth for the three east Asian countries in the current global-crisis. It is a sign of growing inter-dependence and bond between Asian countries to increase bilateral trades.

"If there is no strong opposition from inside the Republic of Korea, talks on the China-Japan-ROK FTA will be officially launched during the first half of this year, in May at the earliest," China Daily the source from the ministry of commerce who asked not to be named.

The source also told the chinese daily that the China-ROK FTA negotiations will probably start in the first half of this year.

Reports have said that the timetable and roadmap of the China-Japan-ROK FTA talks will be clarified during summits among the leaders of the three nations. The previous two summits were held around May.