The 2nd Joint Commission on China-ROK FTA was held in Seoul, the capital city of ROK on March 22. Vice Minister of Commerce and Deputy China International Trade Representative Wang Shouwen and the permanent member for Trade Policy at South Korean Ministry of Trade, Industry and Energy Kim Chang-gyu led the delegation to attend the meeting.

The two sides highly applauded the positive role the FTA has played in promoting bilateral trade and investment and exchanged opinions on the implementation of FTA of trade in goods, rule of origin, technical trade barriers, sanitary and phytosanitary measures, trade remedy, IPR protection, economic cooperation, environment, trade and other areas. The two sides will follow the path led by top leaders to negotiate on specific technical problems, further implement preferential measures and better benefit the two countries and their people.

China-ROK FTA was officially put into force and the first tariff reduction was carried out on December 20, 2015. The two sides have cut the tariffs for 4 times since it took effect 2 years ago and products with zero-tariff have covered 50% of the bilateral trade value. China-ROK bilateral trade registered US$280.26 billion in 2017, up 10.9% year on year.

Approved by:MINISTRY OF COMMERCE,PRC     Supported by:China International Electronic Commerce Center