After Beijing, Tokyo and Seoul announced plans on Sunday to start talking about a trilateral free trade agreement this year, a joint declaration released on Monday said the three countries also have set their sights on reaching a trade pact that will apply to all of East Asia.

The proposed trilateral agreement, if brought into existence, will provide a path leading to a broader East Asian agreement, a high-level diplomat and Chinese experts have said.

Premier Wen Jiabao, Japanese Prime Minister Yoshihiko Noda and President of the Republic of Korea Lee Myung-bak signed a "milestone" trilateral investment agreement on Sunday during an annual meeting. The pact came as the result of years of negotiations and paved the way for trilateral talks on a free trade agreement.