The two countries began negotiating a free trade agreement in April 2007 and signed the agreement in April 2013 under Chinese Premier Li Keqiang and Icelandic Premier Johanna Sigurdardottir. «I congratulate China on the implementation of the second phase of the free trade agreement, which will improve bilateral trade and facilitate the export of its products to the Chinese market without tariffs for Pakistani traders,» Said Firdous Ashiq Awan, the Prime Minister`s Special Assistant for Information and Radio, on Twitter. Chinese Premier Li Keqiang and ASEAN leaders will participate in a signing ceremony on 22 November 2015 in Kuala Lumpur, Malaysia, to sign the protocol amending the framework agreement on global economic cooperation between China and ASEAN. [Xinhua] Beijing had previously authorized the early activation of the second phase of the pact with Pakistan, signed during Prime Minister Imran Khan`s visit to China in April 2019. «Market access means nothing unless you have the production capacity to supply the market. We will hold a series of awareness sessions with potential businessmen to tell them what their opportunities are and what products they can produce to enter the Chinese market,» said the official. Trade between China and South Korea increased from US$6.4 billion in 1992, when the two countries established diplomatic relations, from $6.4 billion in 2014 to $235.4 billion. China has been South Korea`s no.1 trading partner since 2004. Since the same year, South Korea has been China`s fourth largest trading partner, 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.
The Free Trade Agreement between China and Switzerland (FTA) officially entered into force on 1 July 2014. Free trade negotiations between the two countries were officially launched in 2011. After nine rounds of negotiations, the two sides signed the agreement in July 2013. Under the agreement, almost 96% of products are subject to zero tariffs on customs number and almost 100% in terms of trade volume The China-Mauritius Free Trade Agreement contains clear guidelines for rules of origin, trade evidence and technical barriers to trade , as well as health and plant health issues. The Office of the Prime Minister of Mauritius said the agreement «would form the basis for the opening of an economic and trade office by the Shanghai Economic Development Office and facilitate the promotion of the Mauritian government in the main destination cities, in accordance with the Go East strategy, to explore ways to increase trade and exchange between Mauritius and China.» Chinese President Xi Jinping (l.) shook hands with Pakistani President Mamnoon Hussain on April 21, 2015 in Islamabad, Pakistan. [Xinhua] Since 2012, China has been Peru`s main trading partner and the main destination for all of Peru`s exports. In 2014, China also became the leading supplier of capital goods and a major investor, with $18 billion. 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. This agreement was signed in 2002 and came into force three years ago. The ASEAN-China Free Trade Area is the largest free trade area in the world in terms of population and, after the European Union and NAFTA, the third largest in terms of nominal GDP.