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It's Happening....

Sino-Chile FTA helps Ningbo enterprises to enjoy preferable tariff

Thanks to the signing of the free trade agreement between China and Chile, Ningbos export trade to Chile has grown rapidly. According to the statistics from Ningbo Inspection and Quarantine Bureau, in the first half of this year, the bureau issued 9392 copies of Sino-Chile FTZ certificate of origin, with a total volume of US$280 million, up by 23.01% and 11.4% respectively. Estimated with the 5% reduction of tariff, the exporters of Ningbo received a total tariff reduction of about US$14 million.

Chile is the first South American country to establish diplomatic relations with China, and its also the first country in the world to give diplomatic recognition to Chinas market-oriented economy. Since the signing of the Sino-Chile FTA in October 2006, Ningbos Sino-Chile FTZ certificate of origin has witnessed steady increase. In the first half of this year, the amount of the Sino-Chile FTZ certificate of origin of Ningbo ranked No.3 among those of all the free trade zones with China. In terms of the export product structure, the major exports to Chile are in the traditionally strong industries, including textiles, electrical appliances, machinery, plastic products and furniture, with a total of 7024 copies of certificate of origin, accounting for 74.79% of the total

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