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China and Palestine Launch Joint Feasible Studies on Free Trade Agreement


On November 30, witnessed by the Prime Minister of Palestine Hamdallah, Vice Minister of Commerce Wang Shouwen and Palestinian Minister of National Economy Odeh signed The Memorandum of Understanding on Launching China-Palestine FTA Joint Feasible Studies in Palestine, officially starting the construction process of the bilateral free trade area. Both sides agreed to begin to study the mutually concerned areas as soon as possible and end the studies soon.

In July 2017, President Xi Jinping and visiting Palestinian President Abbas reached consensuses on negotiating launching the bilateral FTA Joint Feasible Studies during their meeting. In recent years, remarkable outcomes have been achieved in China-Palestine trade and economic cooperation and the bilateral trade has showed obvious growth trend. In January-September 2017, China-Palestine bilateral trade value reached US$52.11 million, up 11.5% year on year. Promoting the construction of China-Palestine free trade area will help further expand bilateral trade and investment exchanges and inject fresh vigor into the two countries’ trade and economic relations.

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