Both China And South Korea Will Focus More On FTA.

Since the signing of the China South Korea FTA, trade between China and South Korea has not seen a high growth expected by some people.

Nevertheless, Shen Danyang, spokesman of the Ministry of Commerce, said at a regular press conference in June 17th.

It has played an active role in boosting enterprise confidence and promoting bilateral trade and economic exchanges between China and South Korea.

Korean companies hope to push more commodities into the Chinese market with the opportunity of tariff reduction.

50% of the enterprises indicated that after the agreement came into effect, the export to Korea increased or increased substantially, and 57% of the enterprises reflected the increase in the volume of consultation or the increase in the number of orders.

At present, China and ROK achieved two tax reductions in December 20th last year and January 1st this year.

China's two tax reduction covers 92% of the total tax items, and 20% of the products are realized.

。

South Korea's two tax cut covers 93% of all products, and 50% of products achieve zero tariff.

Chinese sales representative of OKF, a beverage manufacturer in Korea, told reporters.

The biggest advantage is mainly the reduction of tariffs.

Previously, due to the impact of tariffs, their beverage products in China were too expensive for consumers to bear, so they chose only limited commodities to enter the Chinese market.

After a gradual decline in tariffs, they are ready to push more products into the Chinese market.

A South Korean company responsible for food products, mainly agricultural products and meat products, told reporters that since the signing of the FTA agreement, China has further opened up its agricultural products sector. At present, there are indeed some tariff reductions in products, and the company is looking for products agents in China.

In addition, a number of Korean enterprises, mainly agricultural products and cosmetics, told reporters that with the help of the opportunities brought by FTA, they successfully entered the Chinese market or expanded the share of existing products in the Chinese market.

At the same time, these enterprises hope to enter the mainland market such as Shanxi and Henan through Shandong.

From Shandong's point of view, Shandong exported $14 billion 600 million to South Korea in 2015, an increase of 5.5%.

The export of metal products, mechanical and electrical products, textile and clothing, leather and glass products, steel products and other products to Korea has been further expanded, and auto parts, small household electrical appliances, chemical products and some consumer goods have increased further from South Korea.

The fields of finance, e-commerce and economic cooperation between Korea and Shandong will further expand.

Not only are imports and exports, but two-way investment between Shandong and South Korea also benefits from the FTA between China and South Korea.

Last year, Shandong approved 33 investment projects in Korea, approving overseas investment of US $170 million, an increase of 88.9% over the same period last year.

The actual absorption of Korean capital reached 2 billion 70 million US dollars, an increase of 35.1%.