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Free Trade Agreement between the Government of the People’s Republic of China and the Government of the Republic of Korea

FTA signed on December 20, 2015

On the afternoon of December 9, Wang Zuowen, vice minister of the Ministry of Commerce, and Jin Zhizhu, the ambassador to the Republic of Korea, exchanged views on the diplomatic relations between the two sides of the People’s Republic of China and the Free Trade Agreement between the Government of the Republic of Korea and the Republic of Korea on December 20, 2015 Effective and the first tariff reduction, January 1, 2016 the second tariff reduction.

FTA signed timetable

On the same day, my ambassador to Australia, Ma Zhaoxu, and Australia’s ambassador to China, Adams, respectively, on behalf of the two governments in Sydney on the Sino-Australian FTA came into effect the two countries diplomatic notes, the two sides jointly confirmed that “the Government of the People’s Republic of China and the Australian Government Free Trade Agreement “Will be December 20, 2015 formally effective and the first tariff reduction, January 1, 2016 the second time the tax. The specific rate of tax cuts Ministry of Commerce has been published on the website.

FTA signed the scope

The China-ROK Free Trade Agreement was launched in May 2012 and signed on June 1, 2015. The China-Australia Free Trade Agreement (FTA) was launched in April 2005 and signed on June 17, 2015. The leaders of China, South Korea and China have been paying close attention to and actively promoted the negotiation process of the agreement, and have repeatedly expressed strong political will and played an important role in promoting the negotiation and entry into force of the agreement.

Tariff in the FTA

China-ROK and China-Australia FTA are a major event in the development of bilateral economic and trade relations between China and South Korea and will further expand bilateral trade and investment, enhance the level of trade facilitation and improve the predictability and transparency of bilateral investment. Promote the free movement of goods, capital and personnel between China and South Korea and China and Australia, and create a more convenient, transparent and fair trade and investment environment for the industry.

Trade rules in FTA

After the entry into force of the agreement, will deepen the bilateral economic and trade cooperation between China and South Korea, China and Australia to promote economic growth into a strong driving force for the comprehensive promotion of China-ROK strategic partnership to lay a solid foundation for common interests, to enrich China-Australia comprehensive strategic partnership development important content.