Ningbo foreign trade enterprises expanding American and ASEAN markets
- Details
- Category: Ningbo Business
- Published: Tuesday, 24 February 2015 12:09
Despite the gloomy global economy, Ningbo made great achievement in terms of foreign trade exports in 2014. The total export volume reached 449.16 billion yuan, up by 10.2%. however, with the changes of the import policies of some foreign countries, especially the cancellation of preferential tariffs on products from China by the EU, the largest export destination of Ningbo's exports, it becomes much harder to maintain the steady growth of exports.
In recent years, with the development of China's economy, its exports have gained more competitiveness in the global market, greatly impacting the sales of the local products. To protect the domestic products, some developed countries have gradually cancelled the GSP treatment to Chinese exports.
"Since several years ago, the EU has gradually phased out the GSP treatment to some categories of products from China. From January 1 of 2015 on, the EU has ended the GSP treatment to Chinese products, which means that enterprises will not enjoy any tariff preferences when exporting to the EU market. To some enterprises, the cost for exports increases a lot." said a person from Ningbo Inspection and Quarantine Bureau.
In the meantime, some American and Asian countries have reached a series of mutual preferential agreements with China in terms of import and export trade. In 2014, Ningbo issued 72186 regional preferential origin certificates to the import and export enterprises concerned, with a total export volume of US$2.49 billion, up by 15.89% and 15.28% respectively.
To be specific, the Sino-ASEAN certificate of origin maintains a good growth momentum. In 2014, Ningbo issued 34541 copies of Sino-ASEAN FTA certificate of origin with a total volume of US$1.27 billion, up by 10.15% and 13.49% respectively. In addition, the Sina-Iceland certificate of origin and Sina-Swiss certificate of origin have been officially issued since July 1, 2014. According to the agreements, all the industrial products and most agricultural produce imported from China to Iceland are able to enjoy preferential tariffs, accounting for 99.77% of China's export volume to Iceland. Switzerland has agreed to provide preferential tariffs for 99.99% of China's exports.
In 2015, more areas will issue preferential regional certificates to China's experts. "Recent years have witnessed the establishment of more free trade zones. The negotiations for Sina-Korean FTZ and Sina-Australian FTA have completed and it is expected that the preferential certificate will be issued in 2015. And the negotiation for China-Japan-South Korea free trade zone has entered the sixth round." said a person from Ningbo Inspection and Quarantine Bureau.
