China, Japan and South Korea are set to engage in further discussions aimed at expediting negotiations for a trilateral free trade agreement, the Ministry of Commerce said on Thursday.

The goal is to reach a comprehensive, high-level, mutually beneficial and value-driven trade pact that encompasses principles of freedom and fairness, said He Yadong, spokesman for the ministry, at a news conference.

The high degree of interconnectivity in the industrial chains and strong economic complementarity among China, Japan and South Korea sets the stage for significant advancements in regional economic integration, He said.

Once the trilateral free trade agreement is reached, it will further expand market access, reduce trade barriers, promote trade and investment, and optimize the business environment, ultimately yielding tangible benefits for enterprises and people of all three nations, He added.

China placed high premiums on the negotiations of the trilateral free trade agreement, emphasizing its dedication to accelerating the negotiation process alongside Japan and South Korea, He said, stressing that the aim is to actively contribute to the stability and recovery of the regional and global economy.

Since the initiation of the negotiations in 2012, China, Japan and South Korea have so far engaged in 16 rounds of talks.