Beijing in drive to boost number of Chinese FTAs

ASEAN flagsChinese FTAs: China’s government has determined to speed up the pace at which it signs new free trade agreements (FTAs) with neighbouring countries and regions, it announced on its website yesterday. It has also set itself the objective of attaining at least the same levels and proportion of foreign trade with its FTA partners as other developed and emerging economies.
“The guidelines [set out on the government website] indicate that the country sees developing FTAs with other countries and regions as a long-term strategy, which will bring a bright future for the development of foreign trade,” Bai Ming, a research fellow with the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Thursday.
To date China has signed 14 FTAs, 12 of which have been put into effect, covering 22 countries and regions. Partners include several members of the Association of Southeast Asian Nations (ASEAN), as well as Pakistan, New Zealand, Chile, Peru, Costa Rica, Iceland, Switzerland, South Korea and Australia. It is also currently pursuing FTA negotiations with other countries, including Norway and Sri Lanka, the MOFCOM statement said.

Source: globaltimes