China is ready to carry out reforms to fully meet the rules and standards of the Comprehensive and Progressive Agreement on Trans-Pacific Partnership (CPTPP), according to commerce ministry spokesman Gao Feng, who recently said the country will make high-level openness commitments that exceed its existing free trade agreement (FTA) practices for market access.

China is now in talks with CPTPP members following the trade pact's accession procedures, he told newsmen.

He also said China is keeping close communications with the members of the Digital Economy Partnership Agreement (DEPA), a new type of trade partnership agreement on digital trade signed in 2020 by New Zealand, Chile and Singapore.

China is willing to provide cooperation opportunities and a broad market for enterprises from DEPA members and have closer ties with each other for cooperation on digital economy, to make contributions to the promotion of innovation and sustainable development among members, he was quoted as saying by official Chinese media.

China is willing to negotiate and sign more FTAs with trading partners sharing same wish to jointly promote regional economic integration and liberalisation and facilitation of trade and investment.

The country will also further increase the openness levels of FTAs. It will remove more tariffs on trade in goods, expand market access for services trade and investment, and actively participate in negotiations on new issues such as the digital economy and environmental protection, according to the spokesperson.

Efforts will also be made to promote the comprehensive utilisation of free trade agreements, to further enhance their effectiveness, so that they will benefit enterprises and people in relevant countries better and faster, he added.

Fibre2Fashion News Desk (DS)

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