• Wednesday, Sep 18, 2019
  • Last Update : 02:09 am

China inks free trade agreement MoU with Palestine

  • Published at 10:27 am October 24th, 2018
China-Palestine MOU
Chinese Vice President Wang Qishan meets with Palestinian Prime Minister Rami Hamdallah in Ramallah in the occupied West Bank October 23, 2018Pool via Reuters

In 2017, the bilateral trade volume between China and Palestine had hit $69.28 million

China has signed a free trade agreement memorandum of understanding (MoU) with Palestine, China’s commerce ministry said on Wednesday in a statement posted on its official website.

China’s Ministry of Commerce (MofCom) said the MoU was signed by the country’s vice commerce minister Qian Keming and Palestinian Minister of the National Economy Abeer Odeh, during Chinese Vice President Wang Qishan’s visit to Palestine.

Both sides agreed to step up negotiations and try and reach an early agreement, according to MofCom.

In 2017, the bilateral trade volume between China and Palestine hit $69.28 million, up 16.2 percent compared to the same year-ago period.