The China-ASEAN Free Trade Area (FTA) was fully completed on January 1, 2010, and since then, China has become ASEAN`s largest trading partner, while ASEAN has become China`s third largest trading partner. Chinese Trade Minister Gao Hucheng (left) shakes hands with his South Korean counterpart Yoon Sang-jick after signing the agreement in Seoul on June 1, 2015. [Xinhua] In November 2005, then-Chinese President Hu Jintao and former Chilean President Ricardo Lagos witnessed the signing of the Sino-Chilean Free Trade Agreement (FTA). The agreement entered into force in October 2006. Under the agreement, China and Chile will extend phase-by-phase duty-free treatment to 97% of products in ten years. The Free Trade Agreement (FTA) between China and Iceland entered into force on 1 July 2014. Iceland is the first developed European country to recognize China as a fully-fledged market economy, as well as the first European country to negotiate a free trade agreement with China. Free trade agreements (FTAs) are contracts that facilitate trade and investment between 2 or more economies. Singapore has an open economy driven by trade in goods and services.
Over the years, he has forged an extensive network of 25 implemented agreements. The Free Trade Agreement (FTA) between China and South Korea officially entered into force on December 20, 2015. Under the agreement, South Korea will remove tariffs on 92 percent of all products from China within 20 years of implementation, in exchange for China abolishing tariffs on 91 percent of all South Korean products. China and New Zealand formally launched free trade negotiations in December 2004 and concluded them in December 2007 after 15 rounds of negotiations. Bilateral trade between China and Costa Rica reached $5.3 billion in 2014, a 145 percent increase from 2006. Trade between China and South Korea rose from $6.4 billion in 1992, when the two countries established diplomatic relations, to $235.4 billion in 2014. China has been South Korea`s No. 1 trading partner since 2004.La South Korea has been China`s fourth largest trading partner since the same year In 2002, when the CAFTA had just been launched, the volume of bilateral trade was $54.8 billion. In 2014, the volume of bilateral trade increased to $480.4 billion, multiplied by 9 over the past 12 years with an annual growth of 20%.
Negotiations on the free trade agreement began in August 2006 and in 8 rounds of talks, the two sides successfully concluded negotiations in September 2008. The China-Singapore Free Trade Agreement is a comprehensive free trade agreement covering trade in goods, trade in services, personnel flows and customs procedures. Chinese President Hu Jintao (right, back) and former Chilean President Sebastian Pinera attend the signing ceremony of a supplementary investment agreement of the Sino-Chilean Free Trade Agreement in Vladivostok, eastern Russia, September 9, 2012. [Xinhua] The Free Trade Agreement between China and Switzerland is the first bilateral free trade agreement signed between China and a country on the European continent and is one of the 20 largest economies in the world. During the conversation, Ambassador Tai laid out her vision for a trade policy between workers` centers and highlighted the Biden-Harris administration`s commitment to U.S. engagement and leadership in the Indo-Pacific region. Ambassador Tai and Minister Gan also discussed WTO reform, the importance of the multilateral trading system and areas of potential cooperation for a successful MC12. With regard to trade in goods, at least 90 per cent of goods on both sides will gradually not benefit from duty-free access to each other`s markets. With regard to trade in services, Costa Rica will continue to open 45 sectors to China, including telecommunications, education and tourism, while China will open seven service sectors in Costa Rica. The China-Pakistan Free Trade Agreement (FTA) officially entered into force in July 2007. The two countries signed the agreement on 24 November 2006. Negotiations began in April 2005 during the visit of former Chinese Premier Wen Jiabao to Pakistan.
The free trade agreement between China and Switzerland officially entered into force on 1 July 2014. Negotiations on a free trade agreement between the two countries were officially launched in 2011. After nine rounds of negotiations, the two sides signed the agreement in July 2013. Since the establishment of the China-Pakistan Free Trade Agreement, enterprises in both countries have been offered more business opportunities and convenience, and more benefits have been brought to consumers in both countries. .