Services Trade: Trade and Negative-List Approach

services trade: The fourth round of the second phase of the China-Korea FTA talks was held in Beijing on Friday to discuss services trade and bilateral investment, aiming to achieve steady progress and create a more favorable environment for companies from both countries, according to a statement from China's Ministry of Commerce MOFCOM on Tuesday, according to Global Times China. It is the first time that the negative-list approach has been used in China's FTA talks with other countries focused on services trade and investment, said the ministry. Photo VCG China has introduced the negative-list approach for services trade and investment talks for the first time in its latest free trade agreement FTA negotiations with South Korea, marking the country's full embrace of higher-level opening-up, analysts said. Similar to the negative-list mechanism that we've used for foreign investment, this one is being applied in FTA negotiations, meaning all the areas not on the list will enjoy free trade, which marks a step forward for China's further opening-up and connecting with international standards, said Tu Xinquan, a professor at the University of International Business and Economics. Tu told the Global Times on Wednesday that what will be on the list still requires bilateral discussion. Developed countries usually adopt negative lists during FTA talks, he added. (news.financializer.com). As reported in the news.