Forum urges economic co-op to overcome political row

The Diaoyu Islands dispute is not the main theme of China-Japan relations and the two sides should work together to tackle the current chilly bilateral economic ties, participants of the financial and economic panel discussion of the 9th Beijing-Tokyo Forum said as they reached consensus in Beijing on Saturday.

Fumio Sudo, president of JFE Steel Corp, said economic and financial cooperation should not be affected by political disputes but be improved to facilitate regional stability and prosperity. "The establishment of China-Japan-South Korea FTA should be escalated and China and Japan should play an important role," Sudo said.

"The current effect on the bilateral economic cooperation caused by the political disputes of the two countries should not have happened," Sudo said, "I am sorry to see enterprises from each side have suffered loss due to the political disputes."

Vice-chairman of the China Center for International Economic Exchanges Wei Jianguo urged the business world from the two countries to overcome the challenges from the current diplomatic difficulty. "Instead, the bilateral economic and trade cooperation should be great impetus to diplomacy and mutual trust," he said.

Huo Jianguo, President of the Chinese Academy of International Trade and Economic Cooperation, said the plummeting economic cooperation between the two countries is normal and is difficult to tackle.

"The consumer psychology of the two peoples is changing all the time," Huo said. "Take Japanese auto sales in China for example. Sales have been growing in recent months compared with last year...consumption is rational but sometimes not, and the change is temporary."