China, Iceland to start FTA talks
(Xinhua)
Updated: 2006-07-10 08:53
China and Iceland have wrapped up their feasibility discussions and are going
to start formal negotiations on Free Trade Area (FTA), sources with the Ministry
of Commerce said here on Sunday.
According to the ministry's press
office, the two sides exchanged views at their latest discussion in Reykjavik,
Iceland, on a number of issues such as merchandise trade, service trade and
investment, at a two-day meeting on the feasibility study.
The meeting,
which opened on July 3, was held between the Chinese ministry and the foreign
trade ministry of Iceland.
According the feasibility report, the FTA
would improve the economy and living standards of both countries. It suggested
an early start of formal negotiations between the two governments.
Iceland is the first developed country in Europe that has recognized
China's market-economy status and is also the first European country to start
FTA feasibility discussion with China.
China has so far established nine
FTAs with 27 countries and regions and signed 334 regional trade cooperation
deals. Currently, China is also in FTA talks with New Zealand, Australia, and
the Gulf Cooperation Council.
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