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China signs new FTA agreement

January 20th, 2008 | Xinhua

China has signed a new free trade area (FTA) agreement, sources with the Ministry of Commerce disclosed at a national commerce working conference on Saturday.

Commerce Minister Chen Deming said that China has so far signed and implemented agreements on establishment of six FTAs.

Sources with the ministry released that China did sign a new FTA agreement but declined to elaborate.

Previously, China has established five FTAs with Chinese Hong Kong, Chinese Macao, Chile, Pakistan and the Association of Southeast Asian Nations (ASEAN).

The country was also in talks on establishment of FTAs with Southern African Customs Union, Gulf Cooperation Council, New Zealand, Australia, Singapore, Iceland and Peru.

The 13 FTAs involve 29 countries and regions. The trade between China and the countries and regions accounts for about one-fourth of the country’s total, said Chen.

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Category: Asia / Pacific, Trade