Import and export enterprises to the "free trade zone" business opportunities
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Two days ago, the Municipal Bureau of Foreign Trade and Economic Cooperation, in collaboration with Jiaxing Customs and Jiaxing Entry-Exit Inspection and Quarantine Bureau, organized a symposium titled "Essential Business Opportunities and Development in Free Trade Zones." The event brought together numerous participants to discuss strategies for engaging in free trade zone negotiations. Zhu Guangyao from the Department of International Economic Relations and Trade at the Ministry of Commerce delivered an insightful speech on the topic.
It is reported that in 2009, the Ministry of Commerce established 14 free trade zones with 14 countries and regions across five continents, signing eight free trade agreements. One of the major benefits of these zones is the near-zero tariffs on goods exchanged between the parties. Zhang Jiansheng, director of the Municipal Bureau of Foreign Trade and Economic Cooperation, emphasized that local enterprises should study and take advantage of the preferential policies offered by these agreements, accelerate industrial restructuring, and enhance their global competitiveness.
According to the symposium, China has already signed and implemented free trade agreements with ASEAN, Chile, Pakistan, New Zealand, Singapore, and Peru. Negotiations are ongoing with Costa Rica, Australia, and the Gulf Cooperation Council, as well as discussions with Iceland and Norway. These developments are highly beneficial for import and export businesses in the city.
On April 8, Minister of Commerce Chen Deming and Costa Rican Foreign Minister Ruiz signed the China-Costa Rica Free Trade Agreement in Beijing. This agreement marks a significant milestone in bilateral relations, representing a new stage in cooperation between the two nations. Both sides aim to implement the agreement by the second half of 2010 after completing the necessary approvals.
In terms of goods trade, China and Colombia will gradually eliminate tariffs on over 90% of products. Sectors such as textiles, machinery, electrical equipment, fruits, vegetables, and automotive parts will benefit from reduced taxes. On the services front, Colombia has committed to opening 45 service sectors to China, while China has also expanded its openness in seven areas. Both sides have reached consensus on various aspects, including rules of origin, customs procedures, technical barriers, and intellectual property rights.
The signing of the China-Colombia FTA reflects both nations' commitment to open markets and opposition to trade protectionism amid the global economic crisis. It is expected to foster mutual benefits, support joint efforts in responding to the financial crisis, and boost economic development. The negotiations were initiated during President Hu Jintao’s visit to Colombia in November 2008, and after six rounds of talks, they concluded successfully in February 2010.
In recent years, China and Colombia have seen strong cooperation in trade, investment, and labor services, leading to rapid growth in bilateral economic exchanges. Costa Rica has become a key trading partner for China in Central America, while China is now the second-largest trading partner of Costa Rica. According to Chinese customs data, bilateral trade reached $2.89 billion in 2008, a 32-fold increase from 2001. Despite the global financial crisis, trade between the two countries rose to $3.18 billion in 2009, up 10.2% year-on-year, and further increased to $2.65 billion in 2010, showing resilience and strong potential.
To date, China has signed free trade agreements with ASEAN, Chile, Pakistan, New Zealand, Singapore, Peru, and Costa Rica, among others. These agreements continue to shape the future of international trade and economic cooperation.