Japan, China, South Korea finance leaders warn of rising trade protectionism

A security personnel walks past the gate of the Asian Development Bank (ADB) headquarters in Mandaluyong City, in Manila, Philippines, on May 3, 2018.
A security personnel walks past the gate of the Asian Development Bank (ADB) headquarters in Mandaluyong City, in Manila, Philippines, on May 3, 2018. PHOTO: EPA-EFE

MANILA (REUTERS) - Finance leaders of Japan, China and South Korea on Friday (May 4) warned of the risks of protectionism and agreed to ensure open and rule-based multilateral trade.

The three countries said geopolitical uncertainty is a source of risk to the global economy, according to a statement issued after their meeting.

The three countries welcomed a declaration between the leaders of North Korea and South Korea to denuclearise the Korean peninsula in a statement after their meeting.

The trilateral meeting was held on the sidelines of the Asian Development Bank's annual meeting in Manila.