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China to advance talks on more free trade agreements

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China has announced that it will encourage negotiations on more free trade agreements.

Deputy Minister of Commerce Wang Shouwen stated that 9 new free trade agreements were signed in the country in the last 10 years and said:

“Since 2012, foreign countries including Switzerland, South Korea and Australia We signed nine new free trade agreements with countries. In many of the agreements, more than 90 percent of goods benefit from zero tariffs.”

Wang stated that they will advance negotiations on free trade agreements with Japan, South Korea, the Gulf Cooperation Council, Israel and Ecuador.

Wang emphasized that they have increased the efficiency of customs processes as well as enabling more free trade agreements to be signed in the last 10 years.

According to Wang, the total customs clearance time for imported goods used to take around four days in 2017, but now it takes less than a day and a half.

Wang said the total customs clearance time for goods exports from China in 2017 was about 12 hours, now only 1.2 hours.

Source China International Radio
Hibya News Agency

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