The Implementation Of FTA Between China And South Korea Is Beneficial To Shoes And Clothing.

The Sino Korean and Sino Australian free trade agreement (FTA) came into effect in December 20th.

After the two agreements are implemented, tariff reductions will be made according to the tariff reduction list.

Among them, under the terms of the Sino Korean FTA, under the 6108 tax items, the original goods of China under the 1649 tax numbers will enjoy zero tariff on the other side immediately. Under the China Australia FTA, under the 5662 tariff items, the Australian original goods and the 2402 items of tax items will enjoy the zero tariff immediately.

In January 1st next year, the two agreements will be subject to second tax reductions.

Further reductions.

After a certain period of pition, the majority of the goods under the two agreements will eventually achieve zero tariff.

Among them, the Sino Korean free trade agreement, the longest period of 20 years after the pition period, South Korea will impose zero tariffs on China's original goods with 92% tax figures. China will impose zero tariffs on the original goods of South Korea with 91% tax. Under the Sino Australian FTA agreement, Australia will impose zero tariffs on all China's original goods within 5 years. After the longest 15 year pition period, China will impose zero tariffs on Australia's original goods with 96.8% tax.

Yesterday morning,

The original 2600 tons of liquid sulphur is declared to be imported at Qingdao customs and enjoys tariff preferences from the Sino Korean FTA. This is the first batch of imported goods benefited after the Sino Korean FTA came into effect.

Benefiting from the FTA tax cut arrangement, the 20 thousand yuan import tariff that the enterprise originally needed to pay has been reduced to zero.

Yonhap reported that it is presumed that China and South Korea

The next 10 years will boost Korea's GDP by 0.96%.

In addition, better business opportunities will create a large number of jobs and bring great benefits to consumers.

Analysts said that with the entry into force of the Sino Korean FTA, Chinese consumers can buy Korean goods of better quality and low price. They can enjoy Korean plastic services and travel to Korea without going abroad, and can enjoy authentic Korean pickles.

The "made in China" with good quality and low price will also enter the daily life of the Korean people.

In addition, South Korea's cosmetics, entertainment and other industries will also usher in a major positive.

China Australia FTA covers more than ten fields such as goods, services and investment.

In the service sector, the Australian side has promised to open the service sector to the Chinese side in a negative list since the entry into force of the agreement, making it the first country in the world to make a pledge of trade in services with a negative list.

The Chinese side opened the service sector to the Australian side in a positive list.

In the field of investment, the two sides give MFN treatment to each other from the time the agreement comes into effect. The Australian side will reduce the threshold of examination for Chinese enterprises to invest in Australia and make facilitation arrangements.