The reporter from the Ministry of Commerce of Sinochem Xinwang News learned that the China-Costa Rica Free Trade Agreement has been confirmed through written consultations between China and Costa Rica and entered into force on August 1, becoming the tenth free trade agreement reached and implemented by China. The relevant regulations will benefit the import and export of chemical products.
The formal entry into force of the agreement means that in the field of trade in goods, China and Costa Rica will carry out zero tariffs on more than 90% of their products in phases, and jointly enter the "zero-tariff era." Zhu Hong, deputy director of the Department of International Trade and Economic Relations of the Ministry of Commerce, said that through mutual tax reductions, the two countries’ products will be more competitive in the other market. At the same time, when these products enter the other market, they can also enjoy convenience in customs clearance and inspection and quarantine. Chinese enterprises will be able to use this free trade agreement to expand exports to the Costa Rica and Central American markets and increase market share. In particular, many products such as textile raw materials and products, light industry, machinery, electrical equipment, and chemical products in China will be more competitive when entering the Colombian market. At the same time, Chinese companies will be able to obtain a variety of raw materials from Colombia, such as bauxite, iron ore, and coal, on more favorable terms.
At the same time, when determining whether the goods are manufactured goods, the agreement clearly stipulates: fuels, energy sources, catalysts and solvents, equipment, devices and supplies used for testing or inspecting goods, tools, moulds and moulds, used to maintain equipment and Spare parts and materials of construction, origin of lubricants, oils, synthetics and other materials used in production or used to operate equipment and maintenance of buildings are not considered.
It is reported that the China-Gold Free Trade Agreement is the first free-trade agreement between China and Central American countries.
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