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"I think it is important to remove regulations like tariff barrier and trade quota on goods, mainly traded between the two countries, in order to expand bilateral trade persistently. In that sense, the Korea-China FTA will affect the bilateral trade positively and result in a trade volume expansion," said Han.

The international community needs to find solutions.

Booming trade and the inter-governmental projects with huge investment have been most eye-catching in Sino-Singaporean economic ties.

Cross-Strait economic cooperation has been deepened, and "three direct links," referring to direct mail, transport and trade links across the Strait, have been achieved, benefiting people on both sides.

China, Japan and South Korea will explore ways to strengthen trilateral cooperation in new industries such as healthcare, e-commerce and software, and bolster cooperation through information-sharing and policy coordination among their financial authorities to promote growth and maintain financial stability in the region, it said.