FM spokesman: China ready for free trade area talks

China is ready to have talks with other countries to build free trade areas, Chinese Foreign Ministry spokesman Qin Gang said Tuesday at a regular press conference.

Qin made the remark when asked about the free trade zone talks that just started between China and Australia.

"We are also ready to start free trade zone talks with other countries and regions," the spokesman said, adding China attached importance to "equal" and "reciprocal" economic cooperation with other countries and regions.

China and Australia signed a Memorandum of Understanding here Monday, agreeing to start talks on establishing a free trade area following Australia's recognition of China's full market economy status.

The MOU was signed after Chinese Premier Wen Jiabao held talks with his Australian counterpart John Winston Howard, who is currently visiting China.

"This is an equal and reciprocal arrangement, which will certainly facilitate economic cooperation between the two sides," said Qin.

Trade between China and Australia has grown fast over the past years. China is now Australia's third largest trade partner, second largest export market and second largest origin of imports. The trade volume in 2004 reached 20 billion US dollars, 50 percent higher than that of 2003.