China and Korea FTA implementation effect will not be weakened
- Author:Orient Honest
- Source:www.china-disposable.com
- Release on:2016-12-26
December 20, 2015, China-South Korea Free Trade Agreement came into effect. In this year's time, applause and voices of doubt coexist. In the short term, China and South Korea FTA's role in promoting trade between the two countries is not enough to offset the negative impact of the weak world economy. The domestic and international political situation in South Korea has brought uncertainty to the development of China-ROK economic and trade relations. See, China-ROK FTA there is great potential for development, will undoubtedly bring good economic and trade cooperation between the two countries.
According to the latest statistics from the General Administration of Customs of China, total imports and exports to China from January to November 2016 totaled US $ 226.7 billion, down by 9.4 percent year on year. Of which exports fell 9.1% year on year, imports fell 9.5%. Trade between the two countries do not rise, so that the FTA in boosting the role of trade in goods lead to question.
From the overall data, this year, China-South Korea trade seems to be no improvement, but the South Korean Trade Association released a report, from January to October 2016, enjoy preferential tariffs in China and South Korea FTA products, China's exports to Korea fell only 2.8%, from South Korea's imports fell by only 1.7%, a significant decline over the same period China's export and import trade decline.
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