China, Japan and the Republic of Korea (ROK) will hold the ninth round of trilateral free trade zone (FTZ) negotiations in Japan in December, an official said on Oct 8.

In the eighth round talks held in Beijing last month, the three countries exchanged views on trade in goods and services, investment and the scope of the FTZ, Shen Danyang, spokesperson of the Ministry of Commerce, told a press conference.

“Establishing the FTZ will help tap into industrial potential, promote trade and investment, and boost the integration of the regional value chain,” the spokesperson said.

“The three sides agreed that a high-standard FTZ is in the interests of all and will aid development and prosperity in the region,” Shen said.

China is willing to make joint efforts with Japan and the ROK to push forward the negotiations, Shen added.

Combined gross domestic product and foreign trade volume of the three countries accounts for more than 20 percent of the world’s total.