China is one of the world`s largest economies and a significant player in international trade. Over the years, China has signed several free trade agreements (FTAs) with various countries and regions to expand its economic reach and drive growth.
In this article, we will explore the countries that have free trade agreements with China and the benefits of these agreements.
1. ASEAN: China signed a free trade agreement with the Association of Southeast Asian Nations (ASEAN) in 2010. The agreement covers trade in goods, services, and investments between China and ASEAN member countries.
2. Australia: In 2015, China signed a free trade agreement with Australia, which aims to facilitate trade and investment between the two countries. The agreement covers goods and services, intellectual property, and investment.
3. New Zealand: China signed a free trade agreement with New Zealand in 2008, which has since been upgraded in 2019. The agreement covers trade in goods, services, and investment between China and New Zealand.
4. South Korea: China signed a free trade agreement with South Korea in 2015, which covers goods, services, and investment. The agreement aims to boost trade and investment between the two countries.
5. Switzerland: China signed a free trade agreement with Switzerland in 2013, which covers trade in goods and services, intellectual property, and investment. The agreement aims to strengthen economic ties between the two countries.
6. Pakistan: China signed a free trade agreement with Pakistan in 2006, which covers trade in goods and services, investment, and intellectual property. The agreement aims to enhance economic cooperation between the two countries.
7. Chile: China signed a free trade agreement with Chile in 2005, which covers trade in goods and services, investment, and intellectual property. The agreement aims to increase trade and investment between China and Chile.
Benefits of free trade agreements
Free trade agreements provide several benefits to both the countries involved. They can increase trade and investment, promote economic growth, and create jobs. They also help to reduce trade barriers such as tariffs and quotas, which can make trade more affordable and accessible.
Conclusion
China has signed free trade agreements with several countries and regions, including ASEAN, Australia, New Zealand, South Korea, Switzerland, Pakistan, and Chile. These agreements aim to expand economic ties between China and its trading partners, increase trade and investment, and create more opportunities for businesses and individuals. As China continues to grow its economy, it is likely to sign more free trade agreements in the future.