Good news for Henan textile and garment enterprises

Mar 14, 2019  |  by CT
The reporter learned from Zhengzhou Customs that the Protocol for the Upgrading of China-Chile Free Trade Agreement was formally implemented on March 1. China and Chile have pledged to further implement zero tariff on 54 products, with the overall proportion of zero tariff products reaching 98%. This will bring zero tariff benefit to a large number of textile and garment foreign trade enterprises in our province.

According to the responsible person of Zhengzhou Customs, the entry into force of the Protocol marks the abolition of tariffs on 24 kinds of products such as textiles, clothing, household appliances and sucrose exported by Chile. Textile and clothing is an important export commodity in our province. The tariff reduction to zero will directly reduce the export cost of our clothing foreign trade enterprises and enhance their competitiveness in overseas markets.
In addition, the Protocol optimizes the rules of origin and operating procedures, which provides more convenience for enterprises in our province to apply for certificates of origin of China and Chile. In January this year, Zhengzhou Customs has issued 352 certificates of origin of China-Chile Free Trade Agreement, with a value of 347 million yuan, an increase of 36.43% and 111.68% respectively over the same period of last year. The visa products cover digital mobile phones, suits, motor vehicle accessories and office furniture etc.
It is reported that the implementation of China-Chile FTA in 2006 is the first FTA signed by China and Latin American countries, which has effectively promoted China to become Chile's largest trading partner, export destination country and import source country. The escalation of China Chile FTA will help further tap the potential of bilateral economic and trade cooperation, and also benefit the radiation market and expand the The Belt and Road Initiative to Latin American countries.





Subscribe to Magazine