China to advance free trade talks with Arabs, Israel

BEIJING -- China vows to advance talks on free trade zones with the Gulf Cooperation Council (GCC) and Israel, said the Chinese government work report distributed Thursday morning to the press.

The GCC, a regional political and economic alliance, includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. China started free trade negotiations with the bloc in 2004.

China is endeavoring to complete the talks on upgrading the Free Trade Zone between China and the Association of Southeast Asian Nations and on establishing the Regional Comprehensive Economic Partnership, the report said.

China is also working to build the Asia-Pacific Free Trade Zone and will continue negotiations on investment agreements with the United States and the European Union, the report said.

At the same time, China will move faster to implement the strategy of developing free trade zones, ensuring that agreements on free trade zones with the Republic of Korea and Australia are signed as soon as possible, the report said.

Negotiations on the China-Japan-ROK Free Trade Zone will also be stepped up, it said.

As a responsible and enterprising nation, the report said, China champions the vision of promoting mutually beneficial development, boosting the global economy and encouraging economic globalization.