According to Yonhap News,

(SEOUL=Yonhap News) The fourth Korea-China-Japan Textile Industry Cooperation Meeting was held November 20 in Osaka, Japan to discuss ways to cooperate in the textile industry.

More than 100 textile companies and business leaders, including Chairman Sung Kihak of the Korea Federation of Textile Industries, President Akikazu Shimomura of the Japan Textile Federation and Vice President Gao Yong of the China National Textile and Apparel Council attended the meeting.

"The Korea-China Free Trade Agreement (FTA) spurred the economic integration efforts of the Asia-Pacific region, including reaching a trilateral FTA between Korea, China and Japan, Trans-Pacific Strategic Economic Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP). Changes in the trade environment will be an opportunity for the textile industry of the three countries to expand its overseas market and develop," said Sung.

The meeting first analyzed the current status of the textile industry in Korea, China and Japan, which was then followed by three sessions on the Korea-China-Japan FTA, the environment and safety and the fashion industry.

At the Korea-China-Japan FTA session, participants agreed on the need for the FTA and discussed the textile industry’s position on the FTA. The next meeting will be held in China next November.

abullapia@yna.co.kr

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