China, Singapore initiate FTA talks
(Xinhua) Updated: 2006-10-27 09:22
China and Singapore held their first bilateral talks on the establishment of
a free trade area (FTA) in Beijing Thursday, the Ministry of Commerce
said.
During Thursday's meeting, officials of the two sides exchanged
views on the mechanism, range and timetable of the FTA talks, a Ministry
spokesperson told Xinhua.
The meeting marks the formal launch of FTA
talks between China and Singapore. The process was initiated in August this year
by Chinese Vice-Premier Wu Yi and Singaporean Deputy Prime Minister Wang Kan
Seng at the 3rd meeting of the Joint Council for Bilateral
Cooperation.
The past decade has seen trade between China and Singapore
surge to reach 33.15 billion U.S. dollars in 2005.
The establishment of
the FTA will further promote bilateral trade and economic ties, the spokesperson
said.
Singapore is the second developed nation to have entered FTA talks
with China after Australia. (For more biz stories, please visit Industry Updates)
|