List of agreements between two states, two blocs or one bloc and one state. Premier Li Keqiang, China`s second-highest official after Xi Jinping, led the Beijing event. In a statement published by state media, he called the pact a “victory for multilateralism and free trade.” China also concluded a free trade agreement with New Zealand in 2009, which will be phased in over a 10-year period for its products. The free trade agreement will eliminate all tariffs on Chinese exports to New Zealand by 2016 and eliminate 96% of Tariffs on New Zealand exports to China by 2019. The agreement will also facilitate reciprocal investment and trade in services. The deal has been very beneficial for kiwis like Fonterra. New Zealand`s fishing industry has also benefited. Trade between China and South Korea increased from US$6.4 billion in 1992, when the two countries established diplomatic relations, from $6.4 billion in 2014 to $235.4 billion. China has been South Korea`s no.1 trading partner since 2004. Since the same year, South Korea has been China`s fourth largest trading partner For fully multilateral agreements (not included below), see: List of multilateral free trade agreements. Afghanistan has bilateral agreements with countries and the following blocs: The China-ASEAN Free Trade Area (FTA) was fully concluded on 1 January 2010 and China has since become ASEAN`s largest trading partner, while ASEAN has become China`s third largest trading partner. Note: Any customs union, every common market, any economic union, the Customs and Monetary Union and the Economic and Monetary Union are also a free trade area.
In 2002, when CAFTA had just been established, the volume of bilateral trade was $54.8 billion. In 2014, the volume of bilateral trade increased to $480.4 billion, and increased ninefold in 12 years, with annual growth of 20%. The strategy also includes a trade agenda that places a strong emphasis on improving market access opportunities, including negotiations for a comprehensive investment agreement. It also looks at overcapacity and calls on China to look at multilateral ambitions. Biden said he would wait for new trade deals to be negotiated. It wants to focus its energy on the pandemic, economic recovery and investments in U.S. manufacturing and technology. The People`s Republic of China has bilateral trade agreements with the blocs, countries and their two specific administrative regions: Turkey has bilateral and multilateral agreements with: The Free Trade Agreement (FTA) between China and South Korea officially entered into force on 20 December 2015.