On October 23, 2018, during Vice Premier Wang Qishan's visit to Palestine, Vice Minister Qian Keming and Palestinian Minister of National Economy Abeer Odeh, under the witness of the leaders of the two countries, signed the Memorandum of Understanding, announcing the official start of China-Palestine FTA negotiation. The two parties agreed to get fully engaged in negotiation, striving to reach agreement as soon as possible.

In recent years, the economic and trade cooperation between China and Palestine enjoyed tremendous achievements, and bilateral trade boasted obvious growth. In the whole year of 2017, China-Palestine bilateral trade volume reached US$ 69.28 million, up 16.2% year on year. In November 2017, the joint feasibility study of China-Palestine FTA was started officially, and after the half a year joint study, the two parties reached agreement on many contents including the conclusion of the feasibility study. The two parties agreed the signing of FTA would make the bilateral economic and trade relations closer, and bring more benefits to the enterprises and people of the two countries.