Mofcom: China is in contact and consultation with other members in accordance with the accession procedures of the CPTPP

2022-06-15 0 By

The Ministry of Commerce held a regular press conference on February 17.China has conducted a full, comprehensive and in-depth study and evaluation of the comprehensive and Progressive Trans-Pacific Partnership (CPTPP), Said Gao Feng, spokesperson for the Ministry of Commerce, while introducing China’s progress in joining the CPTPP and DEPA and promoting the signing of more free trade agreements.China is ready to make efforts to fully meet the CPTPP rules and standards through reform, and make a high-level commitment on market access that exceeds China’s existing contracting practices, so as to provide members with market access opportunities with huge commercial benefits.At present, China is in contact and consultation with other members in accordance with the accession procedures of the CPTPP.As for joining the Digital Economy Partnership Agreement (DEPA), China is in close communication and conducting technical consultations with relevant parties.China is ready to provide cooperation opportunities and a broad market for DEPA member companies, draw closer the bond of digital economy cooperation, and contribute to promoting innovation and sustainable development among DEPA members.Gao pointed out that through nearly 20 years of efforts, China’s “circle of friends” for free trade has been expanding, and the content of free trade agreements has been increasingly enriched and the level of free trade agreements has been constantly improved.So far, China has signed 19 free trade agreements with 26 countries and regions, with free trade partners covering Asia, Oceania, Latin America, Europe and Africa.China’s trade with free trade partners accounts for about 35% of its total foreign trade.In 2021, China’s total import and export volume with free trade partners whose agreements have taken effect totaled 10.8 trillion yuan, up 23.6% year on year, 2.2 percentage points higher than the overall growth rate of China’s foreign trade and 2.4 percentage points higher than the growth rate of import and export with non-free trade partners in the same period.In the next step, MOFCOM will promote the expansion, quality and efficiency of China’s FREE trade zone network, and serve to build a new development pattern.We will continue to press ahead with negotiations on free trade agreements between China and the Gulf Cooperation Council, China and Israel, China and Norway, China and Ecuador, and China, Japan and the ROK, and sign free trade agreements with more willing trading partners to jointly promote regional economic integration and trade and investment liberalization and facilitation.We will further upgrade the level of free trade agreements.We will raise the proportion of trade in goods to zero tariffs, relax market access for trade in services and investment, and actively participate in negotiations on new issues such as the digital economy and environmental protection.At the same time, efforts should be made to increase the comprehensive utilization rate of the FTA and further enhance its effectiveness, so that the FTA will deliver better and faster benefits to the enterprises and people of relevant countries.For more information, please download the 21 Finance APP