Sino German Agreement On Shoe Trade Benefits
On April 8, 2010, Chen Deming, Minister of Commerce of China and Ruiz, Minister of foreign trade of Costa Rica, signed the "China Costa Rica free trade agreement" in Beijing (hereinafter referred to as the agreement).
In terms of trade in goods, China and Costa Rica will stage zero tariffs on products of over 90% of their products. China's textile raw materials and products, light industry, machinery, chemical industry, raw fur and leather products, and Costa Rica's coffee, beef, pork and raw hide products will benefit from the tax reduction arrangement.
At present, the two sides are completing their respective domestic legal procedures in accordance with the relevant provisions of the agreement so that the agreement can be implemented in the second half of this year.
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