Value of China's trade with FTA partners hits RMB10.8 trln in 2021

By：Belt and Road Portal Update：2022-02-18

The total value of imports and exports between China and its free trade agreement (FTA) partners reached 10.8 trillion yuan in 2021, up 23.6 percent year on year, Gao Feng, spokesperson with the Ministry of Commerce (MOC) told a press conference held on Wednesday.

During the same period, the growth rate of China's trade with its FTA partners was 2.2 percentage points and 2.4 percentage points higher than that of the overall foreign trade and the trade with non-FTA partners, according to Gao.

So far, China has signed 19 free trade agreements with 26 countries and regions, and the value of country's trade with its FTA partners covering Asia, Oceania, Latin America, Europe and Africa accounts for about 35 percent of its total foreign trade value, said Gao.

He added taht in the next phase, the MOC will continue pushing forward China-Gulf Cooperation Council, China-Israel, China-Norway, China-Ecuador, China-Japan-Republic of Korea FTA negotiations for jointly promoting regional economic integration as well as trade and investment liberalization and facilitation.