China’s FTA strategy

“The building of Free Trade Areas has become a new era of opening up of China’s new strategy. Hu Jintao, general secretary of the party’s 17 largest in the report, “Free Trade Area of the implementation of strategy”, Premier Wen Jiabao in his government work report in 2009 pointed outthat “free trade zone to speed up the implementation of strategy.” In the current world financial crisis continues to spread, the FTA deal with the crisis in our country to co-ordinate the two markets and two resources will provide greater room for maneuver, while maintaining the steady growth of China’s imports and exports play a significant positive role in . “Extract from Google’s translation of MOFCOM statement

MOFCOM believes that FTAs hold the promise of new export opportunities for China—especially for the sluggish State Owned Enterprises—during the economic recession. FTAs also offer access to lower-priced imported goods at home and they give China a bigger voice in international affairs (as if that were necessary!) by helping to build coalitions of support for China’s views in international forums. A high quality FTA can lead to deeper levels of economic integration and avoid unstable or unpredictable events in bilateral trade.

Nothing unusual here: those are pretty much the same things that any government negotiating an FTA would be looking for, including Australia. The important question is whether MOFCOM means it when they talk about ‘speeding up’ the negotiations of these agreements.

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