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Costa Rica-bound exports to enjoy tariff preferences

Category: Governmental News
Published: Tuesday, 09 August 2011 09:31

The Free Trade Agreement between the People's Republic of China and Costa Rica came to effect on August 1. The CCPIT and the commodity inspection and testing bureau jointly released the PRC-Costal Rica Preferential Certificate of Origin.
According to the agreement, the two countries will impose zero tariffs on 90% of the products of respective countries. Chinese products of textiles, light industry, machinery, electrical appliances, vegetables, automobiles, chemicals, leathers and raw hides, etc, and CR's coffee, beef, pork, pineapple juice, iced orange juice, jam, fish meal, mineral ores, and raw hides will benefit from the reduction of tariffs. 
Previously, CCPIT and its branches started to issue certificates of origin to Bangladesh, India, Laos, Korea, Sri Lanka, New Zealand, Singapore, and Peru.

According to Ningbo Customs last year the exports to the Costa Rica totaled 40300 tons, worth 57 million USD. It imported commodities of 488 tons from Costa Rica, worth 1.05 million USD.