Agree to free trade agreement talks
The three countries, China, Japan and South Korea have agreed in principle to talks about creating a free trade agreement between them.
The idea was mooted more than ten years ago but has only just become a feasible option for all three countries. Talks are likely to last at least two years and the deal could still be scuppered with a presidential election in South Korea later this year and an unstable government in Japan which could lead to elections sooner than the scheduled August 2013.
The leaders of the three countries have also agreed to sign a trilateral investment agreement which will safeguard the interests of investors between the three countries.