FTA Substantive Negotiation between China and Korea Came to the End
Nov 17, 2014 ｜ by
On November 10th, the leaders of China and South Korea met in Beijing, confirming the end of the China-ROK FTA substantive negotiation. After the meeting, with witness of leaders from the two countries, Gao Hucheng, the minister of Ministry of Commerce of the People’s Republic of China, and Yoon Sang-jick, the minister of Ministry of Trade, Industry & Energy of South Korea signed the meeting minutes of China-ROK FTA substantive negotiation as representatives of the two governments.
China-ROK FTA negotiation was started in May of 2012 and the FTA is China’s biggest one so far that covers the widest areas and involves the maximum trade value. According to the results of negotiation, the liberalization proportion of trade in goods is more than “90% of the tax items and 85% of the trade value”. The agreement covers a total of 17 fields, including trade in goods and services as well as investment and regulation, containing the “21st century economic and trade issues” of e-commerce, competition policy, government procurement and environmental protection, etc. Meanwhile, both sides promised to continue the service trade talks in the mode of negative list, and investment negotiation based on national treatment before admittance and negative list mode after signing the agreement. China-ROK FTA negotiation achieves the goal of “roughly balanced, comprehensive and high-level benefit”.
(Contact Lily: lilychinatex@163.com)
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