China-Chile FTA Upgrading Helps Yiwu Small Commodities Develop South American Market

Release time:

2019-04-11

The reporter learned on the 8th that one month since the China-Chile Free Trade Agreement Upgrade Protocol was officially implemented on March 1, Yiwu Customs has issued a total of 569 upgraded China-Chile Free Trade Agreement preferential certificates of origin, with a value of US $12.59 million. It is expected that tariffs will be reduced by US $1.007 million in importing countries. In the first quarter, Yiwu Customs issued 2330 certificates of origin of the China-Chile Free Trade Agreement, with a value of US $56.262 million. It is expected that the import country will reduce tariffs by US $4.5 million.

The China-Chile Free Trade Agreement was implemented on October 1, 2006. The two countries signed an upgraded version of the agreement at the end of 2017 to improve, supplement and upgrade the original agreement, making it the free trade agreement with the highest level of openness to goods in China so far.

The relevant person in charge introduced that in the future, China and Chile will continue to expand market opening on the basis of the high-level liberalization of goods in the original agreement.

China will gradually abolish tariffs on some wood products from Chile within three years. Chile will immediately abolish tariffs on textiles and clothing, home appliances, sugar and other products from China. The two sides will implement zero tariffs on each other's products to reach about 98%.

In terms of service trade, the two sides will further expand and enhance the number and level of service trade commitment sectors on the basis of the original supplementary agreement on service trade. China has further opened up more than 20 sectors including commercial legal services, entertainment services, and distribution, and Chile has made higher-level opening commitments in more than 40 sectors including express delivery, transportation, and construction.

In addition, the "Protocol" also revised and supplemented the chapters on rules of origin, economic and technical cooperation, and added rules on e-commerce, competition, environment and trade.

It is understood that the textile and clothing, small household appliances and other products with zero tariff reduction are the main export commodities in Yiwu, Zhejiang Province. The implementation of the upgrade agreement will further reduce the export cost of clothing foreign trade enterprises and enhance the competitiveness of Yiwu products in overseas markets.

Good limited or effective burden reduction? Tax reduction and fee reduction new policy began to implement, listen to what textile enterprises say.

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