Ningbo enterprises enjoy tariff preference of 18 mln yuan
- Details
- Category: Governmental News
- Published: Tuesday, 20 March 2012 13:07
"Thanks to China-Peru certificates of origin, we enjoyed a tariff preference of 11% this year when we export carpets to Peru. We feel much less burdened ", said an executive with a knitwear company after he got the certificate of origin from Ningbo Inspection and Quarantine Bureau.
As the first packet of free trade agreement between China and Latin American countries, China-Peru Free Trade Agreement was signed on April 28th, 2009 and took effect on March 1st, 2010. According to the agreement, the tariff of over 90% of the products will be reduced to zero during several phases between the two countries. Products that were not taxed in 2010 accounted for 61.19% and 62.71% on Chinese and Peruvian sides respectively.
So far, Ningbo Inspection and Quarantine Bureau has issued 3001 China-Peru free trade preferential certificates of origin, involving a total volume of 93.1 million USD, which help reduce the tariff for Ningbo companies by 18 million yuan.
