BEIJING, May 14 -- The China-Japan-Republic of Korea Agreement for Promotion, Facilitation and Protection of Investment will take effect on Saturday, the Chinese Ministry of Commerce announced on Wednesday.

The agreement, the first of its kind, was signed in May 2012 after 13 rounds of negotiations. The agreement has 27 articles and a protocol to "create stable, favorable and transparent conditions for investment".

It has passed legal procudures in the three countries.