Zhangjiagang Issued 85 Copies Of Certificate Of Origin For Asia-Pacific Trade Agreement.

In April, the Zhangjiagang inspection and Quarantine Bureau issued 85 certificates of origin for the Asia Pacific Trade Agreement, with a visa amount of US $2 million 95 thousand and 400, representing an increase of 120% and 89% respectively compared with the same period last year.

With the average tariff reduction and exemptions of 5%, a total of 754 thousand yuan was reduced to the importing country.

The Asia Pacific Trade Agreement, the predecessor of the Bangkok agreement, is a preferential trade arrangement between developing countries under the auspices of the United Nations Economic and Social Council for Asia and the Pacific.

China formally joined the Bangkok agreement in May 2001. This is the first regional trade organization with substantial preferential trade arrangements that China has joined. At present, there are 6 member states of China, Bangladesh, ROK, Laos, Sri Lanka and India. The purpose is to increase trade links among Member States and achieve common development and prosperity by reducing tariffs on some products.

The Asia Pacific trade agreement was formally implemented in September 1, 2006, including six countries, including China, Bangladesh, India, South Korea, Laos and Sri Lanka, giving substantial tariff relief to each other. Goods exported to the members of the Asia Pacific Trade Agreement member's tax reduction list can go to the local inspection and quarantine institutions for the preferential certificate of origin of the Asia Pacific Trade Agreement.

According to the results of the third round of tariff concession negotiations in the Asia Pacific Trade Agreement, since September 1st, some chemical products, wood products, plastic products, leather, metal products and machinery and electrical products originally produced in China can enjoy a more preferential tax rate when exported to the five countries mentioned above.

Among them, 570 tariff items in India, 1367 items in 10 places in the Republic of Korea, 6 items in Sri Lanka, 6 tax items in Bangladesh, and preferential tax rates in 209 8 tax items in Bangladesh, the average tax reduction rate is close to 30% in the amount of tax revenue in the country. The tax rate of the 6 items is 1367.

Since the implementation of the Asia Pacific Trade Agreement for more than a year, the certificate of origin issued by the Zhangjiagang region has increased considerably. The visa products mainly involve textiles, clothing, chemicals and plastic products, but the visa countries are single, all exported to Korea.

With the formal implementation of the Asia Pacific Trade Agreement, the scope and scope of preferential tariff reductions will be greatly expanded, and the export trade enterprises will receive greater tariff preferences. For this reason, the inspection and quarantine department reminds the vast majority of foreign trade export enterprises to fully understand the Asia Pacific Trade Agreement, and actively apply for the preferential certificate of origin of the Asia Pacific Trade Agreement for the products that meet the requirements, so as to further expand the market in East Asia and South Asia, expand economic and trade exchanges with the member states of the Asia Pacific Trade Agreement, and promote the export of products.