Buy And Buy, Korean Clothing Is Expected To Improve Performance Next Year.

Recently, Chinese President Xi Jinping and South Korean President Park Geun hye jointly announced that China and South Korea themselves

We must conclude substantive negotiations.

On the 17 day, Wang Shouwen, Assistant Minister of Commerce, introduced the latest progress of the agreement: "according to the plan, the two sides will conduct consultations on a few technical issues at the next stage, complete all negotiations within the year, and strive to sign the agreement as early as possible next year.

If all goes well, the agreement is expected to come into force in the second half of next year. "

The Sino Korean FTA was formally launched in 2012. After 14 rounds of negotiations, the two sides reached agreement on all substantive contents.

It is worth noting that this agreement has made a breakthrough in China's previous FTA.

For example, for the first time in the FTA negotiations, negotiations on trade in services and investment were carried out with the "national treatment before admission and the negative list mode" for the first time; for the first time in the FTA negotiations, the contents of e-commerce and local cooperation were involved; for the first time, a separate chapter on financial services and telecommunications services was established.

In response, Wang Shouwen said that from the outcome of the negotiations, the Sino Korean FTA negotiations have achieved the goal of "high-level, comprehensive and balanced interests" proposed by the leaders of the two countries.

"In the field of trade in goods, China's zero tariff products will reach" 91% of tax items and 85% of imports ". The South Korea's most favored nation tax rate has zero products more than the Chinese side, and the final zero tariff products will reach" 92% of tax items and 91% of imports ".

In the field of service trade, China has resolved the core concerns of South Korea in the areas of audio-visual co operation, outbound tourism and environment. The South Korean side has met the core price of China in terms of express delivery, construction, medical treatment and so on. At the same time, the two sides have promised to start a negative list mode negotiations within two years after the agreement comes into effect.

In the field of investment, the two sides undertake to initiate negotiations based on pre admission national treatment and negative list mode within two years after the agreement comes into force.

To the public, what will be the impact of the substantive negotiations between China and South Korea Free Trade Zone? After that, domestic experts pointed out that the rice in agricultural products did not enter the FTA because of the ROK's request.

However, on the day's briefing, Wang Shouwen said that it will benefit from the agreement in terms of domestic agricultural products and electromechanical fields.

He then reminded all enterprises to study how to make good use of the agreement.

"You can see that 90% of the trade tax items will turn to zero.

For China, many industries will benefit from the Sino Korean FTA.

Especially in the field of mechanical and electrical products, some metal products, and other fields, including agricultural products. Similarly, South Korea in its dominant industries, because China is also 90% of the tax items and 85% of the trade volume after the pition period, the tariff is zero, then the vast majority of the Korean industrial industry will benefit.

At the same time, China and South Korea through tariff reductions to zero, making the two market integration, help the two industries in the larger market division of labor, the formation of value chain, enhance competitiveness.

The FTA between China and South Korea is a widely FTA, which will affect all industries.

But the degree of impact is different, so I think all enterprises should study the FTA and study how they can make use of the FTA.

Previously, the South Korean side had predicted that the signing of the FTA between South Korea and China would be more obvious for South Korean products to enter the Chinese market.

That is to say, the domestic population is expected to buy Korea at a cheaper price.

Cosmetics, food and so on.

While seeing the agreement promoting the economy of the two countries, there are also concerns about whether the FTA will impact domestic industries. Sun Yuanjiang, deputy director of the Department of international economic and trade relations of the Ministry of Commerce, said on the same day that most of the negotiations between China and South Korea FTA were involved in tax cuts, but some products were also allowed to be protected as sensitive products.

Most of the products have been involved in tax reduction, but they also protect some products as sensitive products and allow a product to be protected as sensitive products.

The results show that both China and Korea have found an appropriate balance between opening up the market and protecting sensitive industries. Ninety of the products of the two countries have been liberalized, that is, 10% of the products or exceptions are not involved in tax reduction or partial tax reduction. These products are actually well protected. Even 90%, the products will eventually be zero tariff, and some products will also provide a pitional period. The short period will be 5 years, 10 years, 15 years and 20 years. Such a pitional period will provide enough adjustment time and space for these industries or industries to avoid being overly impacted and impacted. From present negotiations

At present, China is Korea's largest trading partner, and by country, Korea is the third largest trade in China.

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According to a study report, if the FTA comes into effect, it will boost China's economic growth by 1-2 percentage points, and its contribution to the Korean economy is expected to reach 2%-3%.