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China and Australia on FTA follow-up to achieve a new consensus

  • Author:Orient Honest
  • Source:www.china-disposable.com
  • Release on :2017-03-29
On March 24, Chinese Minister of Commerce Zhong Shan and the Minister of Trade, Tourism and Investment of Australia, Steven Chobo, signed the "Statement of Intentions on Consideration of the Contents of the China-Australia Free Trade Agreement" on behalf of the two governments, The country will start the China-Australia FTA section, the investment section and the Memorandum of Understanding on Investment Facilitation Arrangements in 2017.

Since the signing of the China-Australia FTA on June 17, 2015, the positive effect on Chinese enterprises has been evident since the entry into force on December 20 of that year. However, the part of the China-Australia Free Trade Agreement on trade in services has yet to be improved. In the China-Australia FTA, Australia has adopted a negative list of open services, China adopted a positive list of ways, Australia's service sector in the open efforts than the Chinese side. The reason for this is that China has long been a trade deficit. Chinese Academy of Social Sciences Asia-Pacific and Global Strategy Research Institute of Emerging Economies Research Director Shen Minghui told the "China Trade News" reporter, in addition to construction, tourism and other minority areas, most of China's service trade projects are relatively weak, Most of the agreements adopted the WTO rules. China's accession to the WTO is also allowed to give a certain period of service protection period. It is precisely because of this, China and Australia have long been determined that after the entry into force of the China-Australia Free Trade Agreement, the two sides will start in the agreed time, with a negative list to start and complete the next round of trade in services negotiations.


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