China and Palestine Sign Free Trade Agreement MOU

Forex News

China's Ministry of Commerce stated that China and Palestine have signed a free trade agreement memorandum of understanding (MOU). The agreement was signed by the China’s vice commerce minister Qian Keming and Palestinian Minister of the National Economy Abeer Odeh.

China and Palestine agreed to step up negotiations and try and reach an early agreement. In 2017, the bilateral trade volume between China and Palestine hit $69.28 million, up 16.2% compared to the same year-ago period.

Beijing's position on Palestine, at least officially, has always been consistent. Back in the 1960's, China was the first non-Arab country to enter into diplomatic relations with the Palestine Liberation Organization (PLO).