But he said that the United States accounts for 25 percent of the world economy, and “We need to align ourselves with other democracies, 25 percent or more, so that we can set the rules of the way, instead of dictating the results of China and others because they are the only game in the city.” The EU is in favour of opening trade relations with China. However, the EU wants China to act fairly, respect intellectual property rights and meet its obligations as a member of the World Trade Organization (WTO). Chinese Trade Minister Gao Hucheng (l.) shakes hands with his South Korean counterpart, Yoon Sang-jick, after the signing of the agreement on June 1, 2015 in Seoul. [Xinhua] List of agreements between two states, two blocs or one bloc and one state. List of agreements being negotiated. Agreements that have so far been discussed only in the absence of formal action by the parties concerned are not mentioned. Bilateral trade between China and Costa Rica increased in 2014 to $5.3 billion, a 145 percent increase over 2006. In 2016, the EU adopted a new strategy for China, which defines the European Union`s relations with China for the next five years. The strategy promotes reciprocity, equal conditions of competition and fair competition in all areas of cooperation. The RCEP does not deal with labour standards or environmental protection measures. Nor does it prevent so-day enterprises from gaining a competitive advantage by subsidizing the state. The EU and China discuss trade and investment strategies and issues in a series of dialogues: trade between China and South Korea has increased from $6.4 billion in 1992 to $6.4 billion in 2014, while the two countries had established diplomatic relations, from $6.4 billion in 2014 to $235.4 billion.

China has been South Korea`s no.1 trading partner since 2004. South Korea is China`s fourth largest trading partner since the same year the signing of the 2.2 billion united RCEP and covers 28% of world trade On April 7, 2008, Chinese Prime Minister Wen Jiabao and former New Zealand Prime Minister Helen Clark attended the signing of the China-New Zealand Free Trade Agreement (FTA) in Beijing , which came into effect on October 1. , 2008. The agreement is the first comprehensive free trade agreement ever signed by China, as well as China`s first free trade agreement with a developed country.