China to Push FTA Talks in 2016
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A file photo of the Ministry of Commerce spokesperson Shen Danyang [Photo: Chinanews.com]

China is set to push talks on a number of multilateral free trade agreements and revive its trade with Russia in 2016.

Ministry of Commerce spokesperson Shen Danyang said 14 FTAs between China and 22 countries and regions have been signed and came into force last year.

He said this year, China will continue to push FTA talks to cover more countries along the economic belt linking Asia and Europe.

"We will try to set a commencement date for the free trade area between China and ASEAN countries and push to end talks on the Regional Comprehensive Economic Partnership and the China-Singapore FTA. We would like to speed up free trade talks with Japan and South Korea, Sri Lanka, Maldives and Pakistan, as well as the Gulf Cooperation Council. More studies will be done on the Asia-Pacific Trade Agreement. This year will also see the start of negotiations on a China-Israel free trade area and other countries along the One Belt and One Road route."

Shen Danyang also said the year of 2015 marked the start of the One Belt and One Road initiative which enhanced cooperation between China and Asian and European countries.

As to a smaller number on trades between China and Russia, he said China is still the largest trade partner of Russia.

Shen Danyang says trade between the two sides is on an upswing.

"The two sides will discuss on measures to expand and restructure our cooperation. In this new year, we will try to make trades between the two sides rebounding. Trade between China and Russia will see an increase in 2016."

Bilateral trade between China and Russia saw a major retreat of some 30 percent during the first 11 months of last year, at some 61.3 billion U.S. dollars.

Shen attributed the decline to weak international market demands and a slump in crude oil prices.

Author： 　　　Source：CRI　　　 Editor：Yang Fan