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China suggests free trade zone within Shanghai Cooperation Organization

China's Prime Minister Li Keqiang called for pooling efforts to attain free movement of commodities, capitals, services, and technologies among the member-states by 2020

© ITAR-TASS/Vladimir Smirnov

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ZHENGZHOU, China, December 15. /TASS/. China proposes to set up a free trade zone in the format of the Shanghai Cooperation Organization (SCO), Prime Minister Li Keqiang said on Tuesday at a session of the SCO Council of prime ministers.

"A short while ago when we had a session in the narrow format [only member-states of the SCO - TASS] we agreed to give an instruction to the ministers of trade and economy to work out tangible measures for setting up a free trade zone within the SCO so as to create more favorable conditions for internal trade," he said.

Li recalled that a special workgroup for facilitation of trade had been created in the SCO and he called for pooling efforts to attain free movement of commodities, capitals, services, and technologies among the member-states by 2020.

"We’re also prepared to tap new forms of trade," he said. "I propose to set up a trade and manufacturing association for e-commerce within the SOC and to furnish the enterprises in the member-states with conditions for prompt cross-border transactions.".

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