China and Canada seek broad free trade agreement
June 6, 2017 Category Foreign trade, Weekly
A broader free trade agreement with Canada could set the stage for a new round of similar negotiations between China and other advanced economies. Unlike a traditional pact that includes only goods and tariff items, a broader agreement including services, tariffs and non-tariff barriers could meet the needs of both nations as they seek to diversify their markets, said Kevin Lynch, Vice President of BMO Financial Group, which runs one of Canada’s biggest banks. “Speaking from the business community in Canada, we see the potential in China is not just a narrow agreement on the goods side, but one that includes services as well,” Lynch told the South China Morning Post in an interview in Guangzhou. “I think the Canadian government and the Canadian business community would like to see a broader and more comprehensive agreement including goods and services.” Trade officials from China and Canada have held exploratory talks to look at the possibility of further negotiations on free trade. Canada thereby becomes the first Group of Seven economy that China is seeking an FTA with.
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