Who Does China Have Free Trade Agreements With
Are you ready for ASEAN 2015? The integration of ASEAN in 2015 and the free trade agreements signed by China with ASEAN and its member states will change the nature of production and exports geared towards production and exports from China and Asia. In this important edition of Asia Briefing, we discuss these developments and the impact they will have on China and the global supply chain. 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 for the first time in September 2004, when trade ministers from both countries met on the sidelines of the ASEAN Plus Three economic ministers meeting. The first round of negotiations was launched in May 2012. The two sides signed the free trade agreement in June 2015, after 14 rounds of negotiations. Afghanistan has bilateral agreements with the following countries and blocs: Although it does not offer the same level of integration as the EU or the U.S.-Mexico-Canada agreement, the agreement was seen as an important step in removing trade barriers and extending China`s influence. China and New Zealand formally began free trade negotiations in December 2004 and concluded negotiations in December 2007 after 15 rounds of negotiations. As far as trade in goods is concerned, at least 90% of the goods of both parties will not have gradual access to customs on the markets of the other party. In terms of services, Costa Rica will open an additional 45 sectors to China, including telecommunications, education and tourism, while China will open seven more service sectors in Costa Rica. The China-Australia Free Trade Agreement (FTA) officially entered into force on December 20, 2015.
Once fully implemented, 96% of Australian products will arrive in China duty-free, while 100% of Chinese exports to Australia will be processed duty-free. China has 11 free trade agreements in force, three of which are under negotiation and three others are under consideration. Many of them are relatively small, although they are useful for companies in the countries that have them, Chile, Costa Rice, Iceland and Peru. The Pakistani agreement is often used in bilateral Sino-pak relations, which are obviously strong, with Pakistan being the main beneficiary of Chinese foreign investment in Southeast Asia, while China also has an interesting free trade agreement with Switzerland, signed in the middle of last year and expected to come into force later in 2014. In particular, Switzerland is not a member of the EU, although it is a member of the European Free Trade Association and has a bilateral agreement with the European Union.