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FTAs may help offset falling export revenue

[ 2009-05-15 12:53]     字号 [] [] []  
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The steep fall in exports is prompting the Chinese government to accelerate the free trade area (FTA) strategy to help local manufacturers reduce export costs and also fend off trade protectionism measures.

Chinese exports fell for the sixth month in a row in April, alarming officials who were expecting the decline to ease further last month.

Thanks to the still blurred economic situation in the US and Europe, China's major two export destinations, analysts are not optimistic and feel that the hard times are far from over for Chinese exports.

The Ministry of Commerce, for the first time, admitted in its website that the "situation is severe" and China will be "actively taking measures to boost exports in the months ahead".

"The FTA strategy will be given top priority," it said.

Currently China has eight FTAs with 16 nations and regions worldwide, with bilateral trade accounting for one-fifth of the Chinese total in 2008.

In 2004, China and ASEAN signed the first FTA.

But since late 2008, China seems to be hastening the process. It has conducted FTA talks with countries like Chile, Costa Rica, Norway and Pakistan.

The latest FTA to have been signed is the one with Peru inked in late April. The two sides signed a package of deals including commodity, service trades and investments. The deal is noteworthy taking only a year to conclude.

(英语点津 Helen 编辑)

FTAs may help offset falling export revenue

FTAs may help offset falling export revenueBrendan joined The China Daily in 2007 as a language polisher in the Language Tips Department, where he writes a regular column for Chinese English Language learners, reads audio news for listeners and anchors the weekly video news in addition to assisting with on location stories. Elsewhere he writes Op’Ed pieces with a China focus that feature in the Daily’s Website opinion section.

He received his B.A. and Post Grad Dip from Curtin University in 1997 and his Masters in Community Development and Management from Charles Darwin University in 2003. He has taught in Japan, England, Australia and most recently China. His articles have featured in the Bangkok Post, The Taipei Times, The Asia News Network and in-flight magazines.