Free Trade Agreement between China&Korea and China & Australia take effect
Free Trade Agreement between China&Korea and China & Australia took effect on December 20th，2015.On that day.Through enterprise application of Fujian Province,Shandong Province,Jiangsu Province,Zhejiang Province, Guangdong Province, Henan Province, Chongqing City, Shenzhen City, Qingdao City, Xiamen City, Hangzhou City, Nanjing City etc, China Council for the Promotion of International Trade issued the first batch 53 preference certificate of origin under the agreement of China &South Korea, China & Australia free trade (FTA)
Free trade agreement of China & South Korea was carried out
It is reported, free trade agreement of China & South Korea was carried out the first tax reduction on December 20, 2015, then On January 1, 2016 it will carry out the second step lower taxes.Within a maximum of 20 years, China side will finally realize zero tariff’s products which will reach 91% of tax items and 85% of import turnover.meanwhile,Korea side will finally realize zero tariff’s products which will reach 92% of tax items and 91% of import turnover.
Australia will eventually avoid China's tariff
According to the free trade agreement of China &Australia , once the agreement is come into effect ，85.4% of the value of exports from both sides can realize zero tariffs. After the transition period of tax reduction， Australia will achieve zero tariff items and make value of trade reaching 100%.China of achieving zero tariff items will reach 96.8% and value of trade will reach 97%.
The Analysts said, FTA of China & South Korea, China & Australia is the highest liberalization level 、 wide range covering area and large volume of trade.
The first batch product of certificate of origin issued by CCPIT was included food, medicine, textile, electronics, and other fields and involved export value reach 2.65 million dollars，also reduction or exemption of customs duty can reach USD 115000.
14 free trade agreement was signed by China.
China has signed 14 free trade agreement and was involved in 22 countries and regions,meanwhile,the parnters of free trade had extended Asia, Latin America, Oceania, Europe and other regio.
From:Wendy Wei（The editor）
Email:wendy@sbwexpo.cn
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