China Free Trade Agreements With Latin America

The Free Trade Agreement (FTA) between China and Iceland entered into force on 1 July 2014. Iceland is the first developed European country to recognise China as a full market economy and the first European country to negotiate a free trade agreement with China. China`s rise in the international trading system shifted its center of gravity, as it became one of the main players in international economic relations. By stooping to preferential agreements, China is building a network of strategic partnerships around the world, including in Latin America. The purpose of this paper is to answer the following questions: Do free trade agreements (SAAs) between China and Latin American countries contribute to increasing trade flows and improving product diversification? Since the establishment of the China-Pakistan Free Trade Agreement, enterprises in these two countries have had more trade opportunities and amenities, and consumers in these two countries have been more beneficial. The volume of bilateral trade continued to grow rapidly, from $6.9 billion in 2007 to $16 billion in 2014, with annual growth of about 15.3 percent. In 2002, when NAFTA was just beginning, bilateral trade volumes amounted to $54.8 billion. In 2014, the volume of bilateral trade increased to $480.4 billion and increased 9-fold in 12 years, with an annual growth of 20%. Lopez, D. and Munoz, F.

(2020), “China`s trade policy towards Latin America: an analysis of free trade agreements policy,” Asian Education and Development Studies, Vol. Ahead of Print No. Before pressure. doi.org/10.1108/AEDS-08-2019-0133 China and New Zealand formally began free trade negotiations in December 2004 and concluded talks in December 2007, after 15 rounds of negotiations. Trade between China and South Korea increased from $6.4 billion in 1992, when the two countries adopted diplomatic relations, to $235.4 billion $US in 2014. China has been South Korea`s largest trading partner since 2004. South Korea is China`s fourth largest trading partner since the same year The China-Australia Free Trade Agreement officially entered into force on December 20, 2015. This study contributes to the understanding of bilateral trade relations between China and Latin American countries and demonstrates the magnitude of the effects of free trade agreements.

With new detailed six-figure data, this study improves current knowledge on bilateral economic relations. Under the agreement, all products exported from China to New Zealand will be duty-free from 1 January 2016, while tariffs on most New Zealand exports to China will be eliminated from 1 January 2019. . .