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Japan-S. Korea finance ministers meet in Tokyo


05-23-2015 17:25 BJT

Japan's and South Korea's finance ministers have held bilateral talks in Tokyo, after a two-year suspension. Japanese Finance Minister Taro Aso, and his South Korean counterpart, Choi Kyung-hwan, agreed to strengthen their economic cooperation, and to exchange views on financial policy measures.

They also agreed on the importance of addressing the enormous demand for infrastructure investment in Asia. The relationship between the two countries has been strained since 2012, due to territorial and historical disputes.

The dialogue came after a 14-year-old currency swap accord between both sides was not renewed in February when it expired, amid soured bilateral ties. The ministers agreed to hold the next round of talks in South Korea next year.

"We would like to hold a dialogue where each respective country exchanges views on financial policy issues, how they work on them and advise each other."

"There are still many things needed for mutual economic ties such as international cooperation, increased Asian infrastructure, FTAs (free trade agreements), TPP (Trans-Pacific Partnership) and trade cooperation," said Choi Kyung-hwan.

"We discussed the global economic situation and so on, and agreed to further strengthen bilateral and multilateral cooperation between the two countries," said Taro Aso.

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