BEIJING, Jan. 19 (Xinhua)--The upgraded China-Chile Free Trade Agreement signed last November is set to give new impetus to Zhanjiang exports when it comes into force this year, according to the city's Entry-Exit Inspection and Quarantine Bureau.
This is China's first free trade agreement upgrade completed with a Latin American country, which is seen as a significant step in helping the country's products enter Latin America, one of the world's largest markets.
The new pact stipulates that Chile will remove tariffs on 24 Chinese products including refrigerators, drying machines, ceramic products, glucose, fructose and clothes. In return, China will eliminate tariffs on 30 varieties of Chilean wooden products in three years.
Over the past year, the Zhanjiang Entry-Exit Inspection and Quarantine Bureau issued local enterprises 141 certificates of origin valued at $12.74 million, registering year-on-year increases of 43.9 and 70.3 percent respectively.
Thanks to the new preferential policies, Zhanjiang exports will enjoy much more relaxed standards in the application of certificates of origin. Goods fitting the bill of direct consignment can be exempted from submitting a transfer certificate.
Furthermore, the use of electronic certificates of origin will increase convenience for local exporters. They can also use a copy of the certificate while going through customs clearance procedures.
(Souce: Zhanjiang Municipal Government)
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