Japan, China, S. Korea vow to resist protectionism

TOKYO, May 5 (KUNA) -- Finance leaders of Japan, China and South Korea vowed on Friday to counter "all forms of protectionism" amid growing concerns over US President Donald Trump's protectionist policies.
At a trilateral meeting in Yokohama near Tokyo, finance ministers and central bank governors of the three countries agreed that "trade is one of the most important engines of economic growth and development, which contribute to productivity improvements and job creations," according to a joint statement issued after their talks. "We will resist all forms of protectionism," the statement said.
The finance chiefs met on the sidelines of the Asian Development Bank's annual meeting kicked off Thursday.
The three countries also shared the view that Asian economies are "expected to maintain "relatively robust growth," but "downside risks still remain, with pervasive uncertainties surrounding policies." "We will continue high degree of communication and coordination among China, Japan and Korea to cope with possible financial instability in the context of increased uncertainty of global economy and geopolitical tensions," the statement said. (end) mk.mb