The Sino Korean Free Trade Agreement Is Expected To Take Effect Before The End Of This Year To Embrace Smecta.

The leaders of China and South Korea agreed to complete their respective domestic procedures as soon as possible, and urged the China South Korea Free Trade Agreement (FTA) to take effect before the end of this year.

Keqiao enterprises and South Korea trade technology cooperation has become increasingly frequent, whether they have made preparations in this regard.

"No matter the government departments or enterprises are actively taking action, some are ready to embrace Smecta."

Keqiao District Business Bureau official said.

China

Sun Ruizhe, vice president of the Federation of industries, said recently that textile between China and South Korea

Industries are pillar industries. They have good industrial foundation and occupy a place in the world.

Keqiao, Shaoxing, is the most representative textile industry cluster in China, with chemical raw materials,

Printing and dyeing, clothing, home textiles and other complete textile industry chain.

Exchanges and cooperation between the two countries play a positive role in mining design creativity, product research and development and sales channel expansion.

In fact, some powerful textile exporting enterprises in Keqiao have taken action on the trade with Korea.

Since April 1st last year, China and South Korea have formally granted mutual recognition to AEO enterprises to facilitate customs clearance, and 5 AA management enterprises such as "red, green and blue printing and dyeing" in Keqiao district have benefited.

After the entry into force of the Sino Korean free trade agreement, 79% of the products of South Korea will be abolished in 10 years, covering 77% of the total imports from China. After the longest 20 years of pition, South Korea's zero tariff products will reach 92% of the taxable items and 91% of imports.

It is understood that in the traditional export products of Shaoxing, clothing and textiles, the benchmark rate of Korea is 8-13%. Except for a small number of products (mainly on textile raw materials and fabrics), tariffs will drop to zero at the time when the agreement comes into effect. Most products will be reduced to zero tariffs in 10 to 20 years.

Therefore, the Shaoxing inspection and Quarantine Department reminded that after the Sino Korean FTA came into effect, the tariff dropped to zero immediately, and many products would go through a long period of tax reduction pition period to gradually achieve zero tariff.

Therefore, most products have a certain tariff cut every year. Export enterprises should make full use of the FTA between China and Korea, and actively apply for the certificate of origin of the China South Korea free trade area, so as to achieve a win-win situation with importers.