The China-Singapore Free Trade Agreement (CSFTA) Further Upgrade Protocol entered into force on Dec. 31, 2024, China's Ministry of Commerce said.
In alignment with high-standard international economic and trade rules, the protocol will open the services trade and investment markets between China and Singapore to a greater extent, according to a statement from the commerce ministry.
In terms of market access, both parties have made commitments to opening their services and investment markets based on a negative list model, marking China's first completion of free trade agreement upgrade negotiations using this model, the ministry said.
Regarding regulations, both sides have established high-standard institutional arrangements in areas such as services trade, investment and telecommunication, while also expanding cooperation in emerging fields like the digital economy, it said.
Negotiations on the CSFTA Further Upgrade Protocol began in 2020, and the protocol was signed in December 2023.
The China-Singapore FTA was initially signed in Oct. 23 2008, followed by protocols to revise and upgrade in July 2011 and Nov. 2018, respectively.
China-Singapore FTA upgrade protocol enters into force
The Republic of Korea (ROK) and China should cherish the historical experience of jointly resisting aggression and continue to work together for a prosperous future, said ROK President Lee Jae Myung.
At the invitation of Chinese President Xi Jinping, Lee will pay a state visit to China from Jan 4 to 7. It will be Lee's first visit to China since he took office last year.
In an interview with China Media Group (CMG) in Seoul on Wednesday, Lee said that humanity must learn from the past to prevent the tragedy of war from repeating itself.
"While pursuing their own national interests to the fullest extent, countries must not harm the national interests of others, but should coexist peacefully. The act of invading other countries and massacring their people for one's own benefit must never be repeated. History of humanity often repeats itself, therefore we must learn from the past. In this regard, I believe the historical experience of ROK and China in resisting aggression and fighting together is invaluable. Of course, while historical experience is important, we cannot remain stuck in the past. For a better future for the people of both countries, we need to continuously explore possibilities for working together towards the future," said the president.
ROK president calls for learning lesson from anti-aggression history
ROK president calls for learning lesson from anti-aggression history
