On 11th, the Ministry of Commerce spokesman Sun Jiwen in response to the recent China-Canada FTA Joint feasibility Study, China-New Zealand FTA escalation negotiations, the China-Peru FTA signed 8 anniversary results and other relevant information. Sun Jiwen said that the construction of the multi-trade zone was progressing smoothly.
Sun Jiwen said that from April 24 to 28th, the second meeting of the China-Canada FTA, which was held in Ottawa, was a good result and that the third meeting would be held in Beijing in the second half of this year, according to the organization of work.
From April 25 to 27th, the first round of the China-New Zealand FTA negotiations was held in Beijing. The two sides conducted fruitful consultations on technical barriers to trade, customs procedures and trade facilitation, rules of origin, trade in services, competition policy, e-commerce, agricultural cooperation, environment and government procurement. In accordance with the organization of work, the second round of negotiations will be held in early July this year.
The China-Peru FTA is the first package of FTA agreements reached between our country and Latin American countries. The signing of the agreement over the past 8 years has led to a rapid development of bilateral economic and trade relations. The first quarter of this year, bilateral trade amounted to 4.83 billion U.S. dollars, a year-on-year growth of 40.7%. For three consecutive years, China has become Peru's largest trading partner, the largest export market and the first major source of imports, and Peru has also leapt to China's fourth largest trading partner in Latin America. On the China-Peru FTA Agreement, Sun Jiwen said that under the agreement to reduce tax arrangements, the two sides now have more than 70% of the products to achieve zero tariffs. To further develop the role of the FTA, in November 2016 the two sides announced the initiation of a joint study on the promotion of the FTA. At present, the two sides are actively implementing the consensus between the two leaders.