China and the Republic of Korea (ROK) signed a free trade agreement (FTA) in Seoul on Monday [1 June 2015], marking another concrete step taken by the two Asian neighbors to consolidate all-round cooperation. Prior to the agreement by Chinese Commerce Minister Gao Hucheng and his ROK counterpart Yoon Sang-jick, more than a dozen rounds of FTA negotiations had been held since May 2012 between the two countries. Under the accord, ROK will eliminate tariffs on 92 percent of all products from China within 20 years after the implementation while China will abolish tariffs on 91 percent of all South Korean goods…Full Article: Xinhua June 2015

Key Point

  • As of mid-2015, China has FTAs with more than 20 countries including Chile, Peru, New Zealand, Iceland, Costa Rica, Singapore, and Pakistan. China’s Commerce Minister noted that his country may consider FTA talks with countries in South Asia, Central Asia, Africa, Latin America and Europe.

ChinaAg Comment

  • As of mid-2015, China was negotiating FTAs with Norway, Sri Lanka, and the Gulf Cooperation Council (GCC). Other FTAs under consideration include Colombia, the Maldives, Georgia, and Moldova.

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