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Aquatic product export to ASEAN exceeds $100 million
- Details
- Category: Ningbo Business
- Published: Tuesday, 16 September 2014 10:08
According to the Municipal Inspection and Quarantine Bureau, from January to August, the total aquatic product export to ASEAN reached 26,800 tons worth $119 million. ASEAN market, which surpassed Japan, USA, EU, has become the largest market of aquatic product export of Ningbo.
However, many aquatic product export enterprises in Ningbo are not aware of making use of the Sino-ASEAN Free Trade Zone policy. Statistics show that from January to August, the amount of CO visa for Sino-ASEAN aquatic products export is only 12.8% of the total export. The non-visa export exceeds $100 million. According to the current tax rate of Sino-ASEAN Free Trade Zone Agreement, all the aquatic products can enter ASEAN market without tax. Calculated by the average preferential tax rate 5%, the import enterprises suffered $5million loss of tariff reduction and exemption, which greatly affected the competitiveness of the aquatic products export.
