Canada will grant an annual quota of 49,000 Chinese-made electric vehicles (EVs), under which imports will enjoy a most-favored-nation tariff rate of 6.1 percent and will no longer be subject to the additional 100-percent surcharge, with the quota set to increase year by year at a certain proportion, China's Ministry of Commerce said.

A ministry official said the move represents a positive step taken by the Canadian side in the right direction and is also good news for Chinese EVs seeking to expand their presence in the Canadian market.

China hopes that Canada will actively fulfill its relevant commitments and continue to work in the same direction with China, the official said, adding that the two sides should, through friendly consultations, create a fairer, more stable and non-discriminatory environment for further expanding bilateral trade and investment cooperation in the EV sector.

The ministry also noted that China and Canada have recently conducted multiple rounds of intensive consultations at various levels on economic and trade issues of mutual concern.

According to the ministry official, the two sides have reached preliminary arrangements in areas including EVs, steel and aluminum products, rapeseed, and agricultural and aquatic products.

At the same time, positive consensus has been reached on issues such as increasing direct flights between the two nations, improving the business environment, and inspection and quarantine of agricultural products.

This marks not only an important step taken by both sides toward addressing each other's economic and trade concerns, but also a new starting point for deepening bilateral economic and trade cooperation, according to the ministry.