In recent years, the regional economic cooperation in East Asia has made important breakthroughs thanks to efforts made by China, Japan, the Republic of Korea (ROK) and the Association of Southeast Asian Nations (ASEAN).

Chen Jian, a professor with the People's University of China, made the remark here Friday at a forum on East Asia Cooperation, which was hosted by the People's University of China and attended by 80 scholars and officials from China, Japan, the ROK, the United States and Mongolia.

In November 2003, leaders of China, Japan and the ROK signed a joint declaration on trilateral economic cooperation for the first time, at the suggestion of Chinese Premier Wen Jiabao in a summit meeting, Chen said.

The declaration, providing institutional guarantee for the long-term cooperation, helped East Asia economic cooperation make substantial progress and enter a new stage, he said.

Leaders of the three countries have reached consensus on the establishment of cooperative mechanism in the fields of economy and trade, information technology, environmental protection, human resources and cultural cooperation, according to Chen.

The trade volumes between China and Japan, China and the ROK have kept hitting new record high in recent years, and the three economies are deeply interdependent. Both Japan and the ROK have expanded their exports to the United States and Europe through their investment in China. At the same time, China benefits a lot, increasing employment and lifting up technological level, he said.

As the regional economic cooperation in the framework of European Union and North America Free Trade Agreement has been enhanced, it is urgent and necessary for East Asia to build its own free trade area, said Lim Hua Sing, professor with the Waseda University in Japan.

The multilateral economic cooperation in East Asia not only refers to cooperation in trade and investment, but also includes technological transfer and cooperation in education and human resources, Lim said.

Source: Xinhua