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More FTAs established in past five years

XinhuaNet, China

More FTAs established in past five years

29 January 2006

(Xinhua) The past five years has witnessed China’s readiness to establish free trade areas (FTAs) with various trade partners, according to sources with the Ministry of Commerce.

By far, China has been talking with 27 countries and regions on the establishment of nine FTAs, covering one fourth of China’s total trade, sources with the Ministry of Commerce said.

In 2005, China signed an FTA cargo trade agreement with Chile, an agreement on an "early harvest" program with Pakistan for their future FTA establishment, and started an all-round tariff reduction process with the Association of Southeast Asian Nations (ASEAN).

Besides, China has also launched FTA negotiations with southern Africa, Latin America and South Asia.

China is also conferring with Gulf countries, New Zealand and Australia about FTA construction. The Chinese mainland has implemented a Closer Economic Partnership Arrangement (CEPA) with Hong Kong and Macao.