China and Norway moved closer to an agreement on the two nations’ Free Trade agreement during a recent video conference between their chief trade negotiators, China Briefing reports.
China and Norway both stated that the aim was achieving a common agreement on as many economic issues as possible and during the video conference, the two nations conducted in-depth consultations on a wide range of topics. Topics included trade in goods and services, rules of origin, investment security, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and the preamble to the agreement.
Both China and Norway agreed that the negotiations for the two countries’ free trade agreement were important in jointly combating the global coronavirus pandemic, restoring growth in a post-pandemic world and both sides anticipate post-Covid economic recovery.
Both nations placed importance on supporting free trade and multilateralism, strengthening bilateral economic and trade cooperation, and maintaining the stability of global industrial supply chains.
Norway is not only expanding its ties with China but the country has also been formalizing its economic and trade relations with other major Asian economies through its membership of the European Free Trade Association (EFTA). EFTA signed a Comprehensive Economic Partnership Agreement (CEPA) with Indonesia in late 2018 and as a result, Norway will be able to obtain access to some of its major exports to Indonesia which includes marine and fish produce and agriculture products such as cheese and chocolate.
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