Market

Japan, China resume economic talks after 8-year hiatus

TOKYO, Japan and China agreed to expand cooperation and exchanges at various levels on Monday, as they resumed high-level economic talks after a hiatus of about eight years.

The fourth Japan-China High-Level Economic Dialogue in Tokyo was led by Japanese Foreign Minister Taro Kono and Chinese State Councilor and Foreign Minister Wang Yi.

“We shared the view that Japan and China are important cooperative partners in the economic field. We also agreed to enhance cooperation and exchanges between the two countries based on the understanding that mutual economic development will be an opportunity,” Kono told reporters after the one-day meeting.

“Holding this high-level economic dialogue is a major step in improving relations between Japan and China, and I wish to use this meeting as an opportunity to further strengthen Japan-China economic relations,” the minister said, adding that they agreed to hold the fifth meeting in China at an appropriate time for both sides.

During the meeting, Wang expressed hope that the two countries will deepen bilateral cooperation, saying, “With both of us standing on a new starting point, I hope we will promote the further development of both countries by opening a new future of bilateral cooperation.” The dialogue was held in 2007, 2009 and 2010, but stalled as bilateral relations have been strained since 2012 due to a dispute over the sovereignty of the islands in the East China Sea, a group of uninhabited islets controlled by Japan but claimed by China.

Source: Kuwait News Agency