In conjunction with the Japan-China-Republic of Korea Trilateral Summit, the Sixth Japan-China-Korea Business Summit was held at Keidanren Kaikan in Tokyo on May 9, 2018, convened jointly by Keidanren, the China Council for the Promotion of International Trade, and the Korea Chamber of Commerce and Industry. This joint statement summarizes discussion of cooperative efforts aimed at achieving inclusive growth and stimulating innovation.

In addition to geographical proximity, Japan, China, and Korea as key neighbors have built close reciprocal relations over many years of exchange in a wide range of spheres including politics, diplomacy, business, and culture. In business, especially, the three nations have become essential partners for one another through strong trade and investment ties and collaboration in fourth-country markets. Moreover, as major Asian nations that have achieved remarkable economic expansion, Japan, China, and Korea drive sustainable global growth. They act as engines of inclusive growth that widely shares the benefits of such expansion and play vital roles in cooperating to contribute to solve of global issues. Stable political and diplomatic relations are crucial as a sustainable platform for amicable trilateral cooperation in order to further develop strong, collaborative relationships in business and industry and exercise the leadership expected from the world.

The business communities of Japan, China, and Korea welcome the Seventh Trilateral Summit and its outcomes, and share the view that leaders’ visits and inter-governmental dialogue including the Trilateral Summit, will contribute to building stable political and diplomatic relations. In addition, we make the following declaration on reinforcing our collaborative efforts and resolving issues with a view to achieving inclusive growth and generating innovation to power such growth.

1. Collaborating to Achieve Inclusive Growth

(1) Free and open multilateral trading system is essential to achieving inclusive growth. A wide range of economic entities must also be provided with the broadest possible opportunities to participate in global value chains. Amid fears of a worldwide rise in anti-globalism and protectionism, it is crucial for Japan, China, and Korea to cooperate as strong advocates of free trade, maintain and enhance free, open and fair multilateral trading system, and further facilitate the cross-border movement of people, goods and capital. To this end, strengthening regional economic partnerships, including the Japan-China-Korea Free Trade Agreement and the Regional Comprehensive Economic Partnership currently under negotiation, is essential to economic growth in Asia and the world as a whole, and high-level agreements need to be swiftly concluded.

(2) Infrastructure development, which provides the basis of industrial activity and people’s lives, is a prerequisite for inclusive growth. We must steadily build and create enough quality infrastructure for the Asian region to develop sustainably as a center of growth and for everyone to enjoy the benefits of growth brought about by globalization. To meet such infrastructure demand, Japan, China, and Korea should build infrastructure and help to reinforce physical, system, and human connectivity through collaboration in fourth-country markets.

(3) Inclusive growth requires harmony between economic development and the environment. Given that Asia accounts for more than 40% of global greenhouse gas emissions and has high levels of interest in and awareness of energy conservation and environmental protection, Japan, China, and Korea should cooperate to play proactive roles in achieving development which is in harmony with the environment. As well as promotion of greater cooperation among Japanese, Chinese, and Korean enterprises, this will require the development of fair and transparent systems to provide platforms for such collaboration, with a view to developing and disseminating energy-efficient technologies, products, and services with low environmental load for sectors including commercial/residential and transportation. The businesses in these three countries are encouraged to develop and provide solutions to tackle environment issues in the region, and are welcomed to actively participate and support relevant cooperation among three countries such as the Tripartite Environment Ministers Meeting (TEMM).

2. Collaborating to Generate Innovation

(1) Innovation is the force that drives inclusive growth. As well as contributing to economic growth, Japan’s efforts to realize a super-smart society dubbed “Society 5.0,” China’s “Made in China 2025” and “Internet Plus” strategies, and Korea’s “Innovative Growth to realize People-centered Fourth Industrial Revolution” will help to solve global issues in fields such as resources and energy, environment and climate change, disaster management, sanitation, and health. These strategies will also contribute to accomplishing the United Nations’ Sustainable Development Goals. To achieve these aims, the business communities of Japan, China, and Korea will pursue cooperation in a wide range of fields including innovative technologies such as IoT, artificial intelligence, big data, and robotics.

(2) It is also important to harness innovation to develop new markets and open up new fields for cooperation. Japan, China, and Korea share the challenge of aging societies, and businesses in these three countries will cooperate to develop products and services for medical treatment, healthcare, and nursing care to improve people’s lives and contribute to enhanced welfare throughout the world.
Tourism is another promising field for collaboration, and it encourages mutual understanding and relationships of trust through interaction among people. Acknowledging the personal exchange is the foundation of the trilateral cooperation, we will continuously strive to expand the personal exchange. In particular, we need to utilize the Northeast Asian Olympics series, which includes 2018 Pyeongchang Winter Olympics, 2020 Tokyo Summer Olympics, and 2022 Beijing Winter Olympics, as major opportunities of personal exchange. Therefore, we will urge the governments to devise plans for practical cooperation such as cultural and tourism cooperation. Furthermore, we will facilitate personal exchange in the field of culture, physical education, education etc.

(3) People are the key to innovation. To generate sustainable innovation, businesses in Japan, China, and Korea will train and utilize a wide range of human resources to support innovation, including women, young people, and seniors. We will also promote cross-border exchange and develop personnel equipped for entrepreneurship.

To facilitate cooperation between the private and public sectors aimed at achieving the goals outlined above, the business communities of Japan, China, and Korea seek the continued understanding and cooperation of the leaders and government officials of the three countries.
The Seventh Japan-China-Korea Business Summit will be held in China at the time of the next Japan-China-Korea Trilateral Summit, and the parties resolve to evaluate and analyze cooperative efforts and further enhance and strengthen joint initiatives.

Source: Keidanren

Image: The Strait Times