Countries With Free Trade Agreements With China

The Free Trade Agreement between China and Iceland came into force on 1 July 2014. Iceland is the first developed European country to recognize China as a complete market economy and the first European country to negotiate a free trade agreement with China. In 2002, when CAFTA had just been established, the volume of bilateral trade was $54.8 billion. In 2014, the volume of bilateral trade increased to $480.4 billion, and increased ninefold in 12 years, with annual growth of 20%. The agreement sets the conditions for trade in goods and services, cross-border investment and new rules in increasingly important areas, such as e-commerce and intellectual property. The impact on trade in manufactured goods between Asian nations will be particularly evident, analysts said. In a joint statement, the countries` heads of state and government said the trade agreement would be a decisive part of their post-pandemic recovery plans that forced countries around the world to block their economies. Negotiations on the free trade agreement began in August 2006 and both sides completed negotiations in September 2008, during eight rounds of negotiations. The China-Singapore Free Trade Agreement is a comprehensive free trade agreement that includes trade in goods, trade in services, staff flows and customs procedures. Switzerland (which has a customs union with Liechtenstein, which is sometimes included in agreements) has bilateral agreements with the following countries and blocs:[41] According to the agreement, nearly 96% of products are subject to zero tariffs in terms of tariff position and almost 100% of trade volume Due to the pandemic, the signing of the agreement was unusual on Sunday, with separate ceremonies in each of the 15 member countries, all video-connected. The trade minister of each country took turns signing a separate copy of the pact, while its head of state or head of government stood nearby and watched. Unlike the CPTPP – the comprehensive and progressive agreement on the Trans-Pacific Partnership – and the EU, no uniform employment and environmental standards are established or require countries to open services and other vulnerable areas of their economies. The free trade agreement between China and South Korea officially entered into force on December 20, 2015.

Under the agreement, South Korea will eliminate tariffs on 92% of all Chinese products within 20 years of implementation, in exchange for China`s abolition of tariffs on 91% of South Korean products. Chinese President Xi Jinping (3 L) will meet his Singaporean counterpart Tony Tan Keng Yam (4th R) on 6 November 2015 in Singapore. [Xinhua] The People`s Republic of China has bilateral trade agreements with the blocs, countries and their two specific administrative regions:[13] For more information or to contact the company, please email, visit or download the corporate brochure. The 2015 deadline is of paramount importance to China, as it also includes Vietnam, which has gradually become an alternative target for production to China.