China Chile Free Trade Agreement Upgrade Helps Yiwu Small Commodities Develop South American Market

8, reporters learned that since the formal implementation of the China Chile FTA upgrade protocol in March 1st, Yiwu customs has issued an upgraded version of 569 copies of the certificate of origin of the China Chile Free Trade Agreement, with a value of US $12 million 590 thousand. We expect to reduce tariffs by US $1 million 7 thousand in the importing countries. In the first quarter, the Yiwu Customs issued 2330 copies of the certificate of origin of the Sino Chile FTA agreement, with a value of US $56 million 262 thousand. We expect to reduce tariffs by $4 million 500 thousand in the importing countries.

The Sino Chile FTA agreement was implemented in October 1, 2006. The two countries signed an upgraded version of the agreement at the end of 2017, improving, supplementing and upgrading the original agreement.

Relevant responsible persons said that in the future, China and Chile will continue to expand the market opening on the basis of the high level liberalization of the original agreement goods.

China will gradually abolish tariffs on some wood products in 3 years, and the wise side will immediately cancel tariffs on textiles, clothing, household appliances and sugar products. The two sides will implement zero tariff products to about 98%.

On the basis of the existing supplementary agreement on trade in services, the two sides further expand and enhance the number and level of service trade commitments. China has further opened its business in more than 20 departments, such as commercial legal services, entertainment services and distribution, and the intellectual side has made a higher level of opening promise in more than 40 departments, including express delivery, spanportation and construction.

In addition, the protocol also revised and supplemented the rules of origin, economic and technological cooperation, and added rules of electronic commerce, competition, environment and trade.

It is understood that the textile products, such as textiles and clothing, and small household appliances, which are directly reduced to zero, are the main export commodities in Yiwu, Zhejiang. The implementation of the upgrade agreement will further reduce the export cost of garment foreign trade enterprises and enhance the competitiveness of Yiwu products in overseas markets.