China-Columbia FTA Joint Feasibility Study

Since the end of the eighties of the last century, with the acceleration of economic globalization development and the international situation eased, a variety of regional economic integration organizations continue to emerge, which bilateral FTA to the initiative, flexibility and universality, etc. advantages become the main form of regional economic cooperation. China and Columbia are also accelerating the implementation of their respective FTA strategy. In the current rapid development of bilateral trade between China and Columbia, China has become Columbia’s second largest source of imports and second largest export market. As 2015 coincide with the 35 anniversary of the establishment of diplomatic relations between the two countries, the leaders of the two sides decided to start bilateral FTA feasibility study to further deepen bilateral friendly relations.Under this background, it is of great practical significance to study the feasibility of China-Columbia FTA Joint.First of all,this paper summarized the FTA correlation theories,and then illustrates the necessity of establish Colombia FTA from two countries’political relations,trade in goods,trade in services,bilateral investment and their complementarity in resources, products and economic structure.In order to analysis the feasibility, the paper calculates some trade index to quantitative analyze the complementary and competitive in goods and services trade. Finally, this paper analyzes some unfavorable factors of the FTA establishing and puts forward related suggestions.According to the research results,despite the current is still faced with many difficulties,it’s still feasible for establishing the China-Columbia FTA Joint. Both China and Russia should recognize the necessity and feasibility of establishing a free trade zone and the significance on the economic development of the two countries.Adhered to the principle of gradual,they should give full play to the complementary in trade in goods and services trade of the two countries and work together to promote the construction of free trade zone steadily.