According to a message on the website of the Ministry of Commerce on November 5, on November 4, Minister of Commerce Wang Wentao held a group meeting with Minister of Resources and Development of the Federated States of Micronesia Akihisa, Minister of Tourism, Business, Industry and Cooperation of Kiribati Ritter, Minister of Phosphate Mines of Nauru Tomo, Minister of Foreign Affairs, International Cooperation and Foreign Trade of Vanuatu Ati, and Permanent Secretary of the Ministry of Trade, Cooperatives, SMEs and Communications of Fiji Ali. After the meeting, Minister Wang Wentao signed the "Framework Agreement on Enhancing Economic Partnership" (hereinafter referred to as the "Framework Agreement") separately with representatives from the five countries.
The Framework Agreement includes contents such as the preface and objectives, principles, scope of negotiations, contact points, mechanism arrangements, future development, entry into force, amendment and termination. China and the relevant Pacific island countries have agreed to conduct flexible and practical negotiations on specific issues such as goods trade, service trade, investment, rules, and practical cooperation. Through the conclusion of institutional arrangements, it aims to expand bilateral trade, support the Pacific island countries in attracting investment, accelerate the industrialization and agricultural modernization, deepen participation in global supply chain and industrial chain cooperation, and achieve common development between China and the Pacific island countries, building a closer China-Pacific Island Countries community with a shared future.
Signing the Framework Agreement is an important measure to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the 20th Central Committee, and to expand opening up. It is the latest progress in expanding a high-standard free trade zone network facing the world. China will actively promote the negotiation of specific issues with the above-mentioned countries on the basis of mutual benefit and win-win, further expand high-level openness, and share the vast market and broad development opportunities of China with the Pacific island countries, so that the results of the agreement can bring benefits to the enterprises and people of both sides as soon as possible.
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