Law and Trust: An Investors' Interest is Growing to FTA by Norway and China
Added: (Mon Mar 25 2019)
Pressbox (Press Release) -
Two countries are actively discussing a free trade agreement (FTA). After conducting 12 consultations over the past 6 years, both states are ready to initial an agreement on the opening of NWT in early 2020. Even on September 30, 2018, after the end of the last negotiations, this question remained open in China. Was it possible to agree with Norway on an FTA? However, it has now become known that the next summit, which may take place in April-May 2019, will be the beginning of a full-fledged cooperation between Norway and China.
Moreover, in September 2018, both sides began to discuss a number of important issues on FTA. These issues included trade in goods, service trade and investment, rule of origin, customs procedures and trade facilitation, technical barriers of trade, sanitary and phytosanitary measures, legal issues, trade remedy, intellectual property, e-commerce, environment and competition policies.
Maxim Shchelkin, senior lawyer at Law and Trust International company, commented on the successful progress in negotiations between both countries. In his opinion, China and Norway have been holding negotiations on an FTA for a long time, and now, it seems, the agreement is already at its conclusion.
“I have no doubt that an FTA will be signed. After all, each party gets its own interesting benefits. China will get access to Norwegian resources, which are quite huge, as they are one of the highest ranked economic countries in the world. At the same time, Oslo has the opportunity to sell its goods on the 1.5 billion people market, invest in China’s energy projects, and work on the development of environmental safety. Of course, the emergence of new opportunities and investments will provoke an increase in the number of jobs, companies and enterprises,”notes Mr. Shchelkin.
The specialist assures that Law and Trust International law firm actively monitors and notes the increased interest from investors and business owners regarding the registration of a company in Asia. “Now active demand for the registration procedure is worth noting in China (especially in Macau and Hong Kong), Singapore, Malaysia, Indonesia and the Philippines. A number of successful cases in our company also confirms this trend, “the lawyer emphasized.
According to Mr. Shchelkin, the company registrations in Asia will increase. Among the reasons the specialist notes is the maximum transparency of financial and banking systems, a simplified registration system, the growth of qualified law assistance and its support in registration of companies. All these factors would help many businessmen start their businesses abroad.
“The upcoming signing of the FTA between China and Norway will be a powerful impetus to an even more active growth in the number of enterprises and companies in these two countries. We predict that after initialing the agreement, both states will review their tax burden and registration rules for foreign companies. This will allow investors to start actively entering Asian markets and start the procedures for registering companies in the nearest future,” the expert concluded.
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About Law&Trust International
Law&Trust International is an international law firm operating in all branches of law, providing services in taxation, consulting, registration and maintenance of business, accounting and auditing, certification, real estate and much more. Our company is founded in 2003, and we are quickly developing in the Asian market, especially in China, Macau, Hong Kong, Singapore, Malaysia, Indonesia and the Philippines.
Today, Law&Trust International is a promising international company with a network of representatives in 64 countries, successfully operating in more than 135 jurisdictions and cooperating with more than 150 banks all over the world.