China and Palestine launch negotiations on free trade agreement
- 2018-10-26 18:02:13
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JERUSALEM _ Palestine News Network
China and Palestine have officially launched talks on the Free Trade Agreement (FTA), the Chinese Ministry of Commerce said on its official website.
The two sides agreed to speed up the process of negotiations and seek an agreement as soon as possible, the ministry said.
A memorandum of understanding on the start of free trade talks between the two countries was signed on the sidelines of Chinese vice-President Wang Zhishan's recent visit to Palestine.
Economic and trade cooperation between China and Palestine has achieved remarkable results in recent years, with bilateral trade growing rapidly.
Chinese official data showed that China-Palestine bilateral trade volume reached 69.28 million US dollars in 2017, an annual increase of 16.2 percent.
The countries officially launched the Joint feasibility Study of the free Trade agreement in November 2017.
The two sides believed that the signing of the FTA would enhance bilateral economic and trade relations and bring more benefits to the companies and peoples of the two countries, the ministry said.
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