MOFTEC Meaning and
Definition
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MOFTEC stands for the Ministry of Foreign Trade and Economic Cooperation. It is a government agency primarily responsible for overseeing and regulating China's foreign trade and economic activities. MOFTEC was established in 1982 and later merged with other ministries in 2003 to form the Ministry of Commerce (MOFCOM).
As the predecessor to MOFCOM, MOFTEC was entrusted with the task of formulating and implementing China's foreign trade policies, negotiating trade agreements, promoting international trade, and supervising the execution of foreign economic and technological cooperation projects. Its main objective was to facilitate China's integration into the global economy and foster favorable economic relations with other countries.
MOFTEC played a crucial role in promoting bilateral and multilateral trade cooperation, attracting foreign direct investment (FDI), and regulating China's import and export activities. It also provided support to Chinese enterprises in adapting to international trade rules and regulations.
Although the Ministry of Commerce has now taken over most of MOFTEC's responsibilities, the term MOFTEC is still sometimes used to refer to China's past foreign trade and economic policies. It represents China's early efforts in liberalizing its economy and engaging in global trade, playing a vital role in shaping the country's economic development and international standing.
Common Misspellings for MOFTEC
- MOFTuC
- MOFTmC
- MOFTaC
- MOFTgC
- MOFTEk
- MOFTEg
- MOFTEa
- MOFTEb
- m oftec
- mo ftec
- mof tec
- moft ec
- mofte c
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