South Korea, Japan and China reaffirmed their commitment to an open, rules-based multilateral trading system during their trilateral summit on Monday. The three nations pledged to reform and strengthen the World Trade Organization’s (WTO) functions, including its dispute settlement system. They also agreed to accelerate negotiations on the trilateral Free Trade Agreement (FTA) while ensuring the effective implementation of the Regional Comprehensive Economic Partnership.

The trilateral summit addressed regional financial cooperation and welcomed progress made under the ASEAN+3 framework, particularly the establishment of the Rapid Financing Facility(RFF) program. The leaders also adopted a joint statement on intellectual property cooperation,