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The China Costa Rica Free Trade Agreement Will Take Effect From August 1St.

2011/8/2 8:41:00 47

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The China Costa Rica free trade agreement, which was adopted by the two sides in friendly consultation and confirmed in writing, came into force on August 1, 2011 and became the tenth FTA reached and implemented by China.

The China FTA agreement covers a wide range of areas and a relatively high level of openness.

In goods

Trade

In the field, China and Costa Rica will stage zero tariffs on each of their 90% or more products and move towards the "zero tariff era".

China's textile raw materials and products, light industry, machinery, electrical equipment, vegetables, fruits, automobiles, chemicals, raw fur and leather products and Costa Rica Coffee, beef, pork, pineapple juice, frozen orange juice, jam, fish meal, mineral products, raw leather and other products will benefit from the tax reduction arrangement.

In the field of service trade, on the basis of their respective commitments to WTO, Costa Rica will further open to the Chinese authorities in 45 sectors or sub sectors, such as telecommunications services, business services, construction, real estate, distribution, education, environment, computer and tourism services, while the Chinese side will further open up the 7 sides or sub sectors in computing services, real estate, market research, plation and interpretation, sports and so on.

The two sides also reached broad consensus on intellectual property rights, trade remedy, rules of origin, customs procedures, technical barriers to trade, sanitary and phytosanitary measures, and cooperation.

Specific circumstances may be logged in.

The negotiations between China and Costa Rica started in January 2009.

After more than a year of intensive consultation, the two sides formally signed the FTA in April 2010.

The negotiation and signing of the China FTA Agreement reflects the determination and confidence of China and Costa Rica through strengthening cooperation and deepening economic and trade relations and working together to achieve mutual benefit and win-win results.

The formal implementation of the FTA will promote further development of bilateral trade in goods, services and investment and will inject new vitality and connotation into bilateral relations.

In recent years, China and Costa Rica have made good cooperation in bilateral trade, investment, contracted labor and other fields, and bilateral economic and trade exchanges show a rapid development trend.

Costa Rica has become an important trading partner of China in Central America, and China has become the second largest trading partner of Costa Rica after the US.

According to Chinese customs statistics, in 2010, bilateral trade between China and Costa Rica amounted to US $3 billion 800 million, an increase of 19.2% over the previous year, of which China exported 690 million US dollars and imports 3 billion 110 million US dollars.

Costa Rica has increasingly become one of China's major investment and trading countries in Central America.

So far, China has signed and implemented ASEAN, Chile, Pakistan, New Zealand, Singapore, Peru and Costa Rica.

FTA

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Meanwhile, the mainland and Hongkong and Macao respectively signed and implemented the Closer Economic Partnership Arrangement (CEPA). The mainland and Taiwan signed and implemented the cross-strait economic cooperation framework agreement (ECFA).

China has also held negotiations with Australia and the Gulf Cooperation Council (including Saudi Arabia, Kuwait, the United Arab Emirates, Oman, Qatar and Bahrain), Switzerland, Norway, Iceland and other countries and regions in 6.

China and Costa Rica sign free trade agreement between China and Costa Rica

On April 8th, Minister of Commerce Chen Deming (former right) and Costa Rica foreign trade minister Ruiz signed the "China Costa Rica free trade agreement" on behalf of the two governments of Beijing.

This is the first package of free trade agreements signed by our country and Central American countries.

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On April 8th, Minister of Commerce Chen Deming and Costa Rican foreign trade minister Ruiz signed the "China Costa Rica free trade agreement" respectively on behalf of the two governments in Beijing.

The FTA is the first package of free trade agreements signed between China and Central American countries, and is a new milestone in the history of the development of bilateral relations.

The two sides agree that the agreement will be implemented in the second half of 2010 after completion of the relevant approval procedures by the two countries.

In terms of trade in goods, China and Costa Rica will implement zero tariff on each of their 90% or more products. China's textile raw materials and products, light industry, machinery, electrical equipment, vegetables, fruits, automobiles, chemicals,

Raw hair

Products such as leather and leather, coffee, beef, pork, pineapple juice, frozen orange juice, jam, fish meal, mineral products, raw hide and other products will benefit from the tax reduction arrangement.

In terms of trade in services, on the basis of their respective commitments to WTO, there are 45 service departments in the region that are further open to China, and China is further opening up to 7 Parties in the region.

At the same time, the two sides have reached broad consensus in many areas such as rules of origin, customs procedures, technical barriers to trade, sanitary and phytosanitary measures, trade remedy, intellectual property rights and cooperation.

The signing of the China FTA agreement demonstrates the firm determination of the two countries to persist in opening up and oppose trade protectionism under the background of the global economic crisis.

This will further promote mutually beneficial and win-win results and play an important role for the two countries in coping with the world financial crisis, readjust the industrial structure and accelerate the pace of development, and will bring broader space for bilateral economic and trade cooperation.

Exclusive interview: China and Costa FTA agreement creates more opportunities for economic and trade cooperation between the two countries

Annabelle Gonzalez, Costa Rica's foreign trade minister, said in an exclusive interview with Xinhua news agency that China is now the two largest trading partner after the US, and that the free trade agreement, which is expected to take effect in early 2011, will create more opportunities for economic and trade cooperation between the two countries.

This will be the first package of free trade agreements between China and Central American countries.

Gonzales pointed out that China's economy has made considerable progress in the past 20 years, and now it has become the engine to promote world economic recovery.

"China is the largest exporter in the world today," she said. "All the countries in the world can see China's electronic products, auto parts, machinery and equipment, textiles and garments, which provide consumers with better and more convenient consumption choices."

She believes that China has played a very important role in the global production chain, and Costa Rica must join the industry chain if it wants to develop.