The Sino Korean FTA Will Benefit Many Industries And Become The Biggest Beneficiaries Of The Garment Industry.

The Sino Korean FTA came into effect and the clothing industry enjoyed it.

In December 20th, the Sino Korean FTA was formally implemented. It would be cheaper and more convenient for Yantai people to buy Korean goods.

Moreover, with the deepening of bilateral cooperation, cooperation in education, medical treatment and cultural industries will become more and more closely related. Yantai citizens will also benefit from this.

As a bridgehead, Yantai is also actively planning to build a Sino Korean Industrial Park, build a Sino Korean Free Trade Zone Industrial Cooperation Demonstration Area, develop intelligent manufacturing, energy conservation, environmental protection, logistics and other industries, and do a good job in the China South Korea free trade zone.

It will be more convenient for Yantai residents to buy Korean goods more convenient.

Speaking of the benefits brought about by the signing of the China South Korea free trade agreement, Professor Niu Linjie, President of the Korean College of Shandong University, said that the impact is manifold, but shopping convenience is the most direct impact of the public.

Niu Linjie said that by then, Yantai will have closer ties with South Korea in terms of its geographical advantages.

More convenient customs clearance measures can be enjoyed between the two enterprises when they import and export.

In addition, reciprocal trade measures will also attract more enterprises to go abroad to develop in other countries.

The FTA between China and South Korea is the most widely covered FTA in foreign trade negotiations so far.

According to the outcome of the negotiations, the ratio of liberalisation of trade in goods between both sides exceeded 90% of tax and 85% of trade volume.

After the agreement came into effect, more than 90% of the products of the two sides entered the zero tariff era after the pition period.

By then, Yantai will become the hub and pit place for Korean high-quality goods to enter the Chinese market with geopolitical advantages.

The vast majority of people in Yantai are expected to buy more and more Korean goods with high quality and parity.

In February 9th this year, the Han Guonong food sales exhibition hall, led by the Ministry of agriculture, forestry, animal husbandry and food, was officially opened on the four floor of Yueyue city. This is the first exhibition hall set up by the Korean government in China. It displays more than 400 kinds of Korean products on the spot.

Although the product is good, the price is still unacceptable to many citizens.

It is reported that after the implementation of the FTA between China and Korea for a period of time, the prices of these products will drop to varying degrees, bringing tangible benefits.

After the formal signing of the FTA, Yantai will usher in more opportunities for development.

To seize the opportunity of China South Korea Free Trade Zone, Yantai is building a Sino Korean industrial park.

The park is located in the two wings of Yantai City, with a total planning area of 349 square kilometers, including the symbiotic zone of emerging industries, the port economic zone and the modern service industry gathering area, forming the spatial layout of "one park, three districts".

Among them, the new industrial symbiosis area, relying on the construction of Yantai economic and Technological Development Zone and Yantai high tech Industrial Development Zone, will focus on developing new industries such as high-end equipment manufacturing, new energy and energy conservation, environmental protection, electronic information, marine engineering and marine technology.

Relying on the construction of Yantai bonded port area, Yantai Penglai International Airport and Yantai port West Port Area, the port oriented economic zone focuses on the development of logistics, commerce, inspection and certification, e-commerce and other modern service industries.

Relying on the construction of the new marine economic zone in eastern Yantai, the modern service industry gathering area focuses on the development of modern services such as financial insurance, cultural creativity, health care, and health care for the elderly.

In the near future, the Sino Korean Industrial Park in Yantai will be built as an industrial cooperation demonstration zone for China South Korea Free Trade Zone, a strategic cooperation platform for "one belt and one road", a comprehensive international logistics hub for Northeast Asia and a smart and livable new area with prominent elements in South Korea.

In order to better support the development of related industries between China and South Korea, Yantai has also set up a China South Korea (Yantai) industrial development guidance fund, with a provisional fund of 1 billion yuan.

And the establishment of China Korea (Yantai) Industrial Park Development Fund to promote the construction of China South Korea Industrial Park.

Yantai Finance Bureau staff said that the Industrial Park fund on the one hand to carry out policy investment, mainly invest in the industrial park infrastructure, attracting more enterprises to gather.

On the other hand, it is used for industrial investment, mainly for projects in industrial parks and other Sino Korean economic cooperation projects.

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The formal implementation of the FTA between China and South Korea will bring opportunities to many industries.

Wine, medical, logistics, aquatic products,

Will benefit.

Chen Guangsong, general manager of the Korean market department of Yantai Zhangyu company, said with a smile that the effective entry of the FTA between China and Korea is good news for Chinese liquor companies to expand the Korean market. The reduction of tariffs is conducive to the enterprises to occupy a larger market share in the Korean market.

Speaking of South Korea, the quality service of medical institutions is recognized by many people.

With the signing of the FTA between China and South Korea, the prospect of cooperation between Chinese and Korean medical institutions is huge. In the future, the public will enjoy high-quality medical services at home.

In May this year, green leaf medical and strategic dentistry hospital from Busan, Korea will carry out strategic cooperation. The two sides will discuss the appropriate business model of stomatological hospital and set up chain brands nationwide.

With the signing of the Sino Korean FTA, Yantai is also focusing on promoting the cooperation of the logistics industry.

We will strive to open the Sino Korean Railway Ferry Project, discuss the establishment of a railway container central station relying on the de Longyan railway and Yantai port, and build a multi-modal pport service center at the port to build a new Eurasian Continental Bridge between Yantai and Europe, and promote the development of Yantai container business.

Ande, chairman of Yantai aquatic products Co. Ltd., told reporters that the company is working with South Korean enterprises to prepare 60 thousand tons of modern cold storage.

"The company's exports to Korea will definitely increase further."

Cong Zhi Gang said, according to his preliminary estimate, this year's exports to South Korea's aquatic products will reach about 20 thousand tons.

With the increase of export share, the benefits of enterprises will also be considerable.

"The Yantai garment industry will be the first, most direct and largest beneficiary industry in China and South Korea's free trade agreement."

Lou Liren, Secretary General of Yantai garment industry association, introduced in Yantai.

Many of them are engaged in foreign trade foundry production, including a small number of Korean orders. The landing of tariff preferential policies will reduce the cost of textile and garment enterprises, enhance their competitiveness, and greatly promote the upgrading of the garment industry in Yantai.