ISDS Case Map
China
Protectionism and import substitutions are not the best ways to ensure the prosperity of all, especially the poorest of the poor, but keeping the economy open to the world is, senior Singaporean minister Tharman Shanmugaratnam has said.
Norway aims to reach a free-trade agreement with China by the end of 2020, more than a decade after initial negotiations began, the Norwegian industry minister said.
The Phase 1 deal reached last month is expected to cut tariffs and boost Chinese purchases of US goods but Chinese officials have yet to publicly commit to key points.
China will not raise its quotas for the import of grains, according to vice agriculture and rural affairs minister Han Jun, raising the prospect of a stand-off with the US.
The China Pakistan Free Trade Agreement (CPFTA-II) has immediately abolished tariffs for Pakistan on 313 products, while a total of 75% of the tariff lines will be liberalised over the next decade.
Countries like China, South Korea and Japan may boast of low tariffs but they have erected huge non-tariff barriers (NTBs), most of which are tailored to mask the ferocity of trade protectionism, in a bid to control the imports they deem undesirable.
Proper mandatory licenses will be exempt from claims for expropriation under the China BIT model.
The second phase of the China Pakistan Economic Corridor (CPEC), a flagship project of Belt and Road Initiative has started with the establishment of special economic zones in various parts of the country.
China’s trade delegation tentatively plans to travel to Washington for four days from January 13 for the signing of the phase one deal.
The agreement will not only increase Chinese purchases of US agricultural products but pave the way for long-term structural reforms.
