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Published on:2015-06-01 Author: Source:MINISTRY OF COMMERCE PEOPLE’S REPUBLIC OF CHINA Traffic:2386
Seoul, June 1 (Xinhua)-Chinese Minister of Commerce Gao Hucheng and the Korean Minister of Trade, Industry and Energy Yoon Sang-jick respectively represented the governments of the two countries and officially signed the Free Trade Agreement between the Government of the People’s Republic of China and the Government of the Republic of Korea in Seoul Korea on June 1 and jointly met with journalists after the signing ceremony.
China-Korea FTA covers the broadest range of issues and involves the biggest
trade volume of countries among the foreign FTAs signed by China so far. This
FTA is a mutually beneficial agreement for both China and Korea and realizes the
goal of “generally balanced, comprehensive and high-level benefits”. According
to the agreement, in terms of the opening level, the proportion of the
liberalization of trade in goods of the two countries exceeds 90% of the tax
items and 85% of the trade volume. The rage of the agreement covers 17 fields
such as the trade in goods, the service trade, the investment and the rules and
the “trade and economic topics in the 21st century” like the e-commerce, the
competitive policy, the government procurement and the environment. At the same
time, both sides promised to continue to conduct the service trade negotiations
with the mode of the negative list after the singed agreement taking effect and
to carry out the investment negotiations on the basis of pre-establishment
national treatment and the mode of negative list.
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