China-ROK FTA benefits Taicang exporters
2016-07-21 15:31:00

A total of 32 enterprises in the city of Taicang, East China's Jiangsu province have received preferential tariffs amounting to 9.6 million yuan ($1.43 million) since the China-Republic of Korea Free Trade Agreement (China-ROK FTA) came into effect last December, according to data released by Taicang Customs.

Products exported to South Korea by Taicang based enterprises consist mainly of chemicals, machinery, steel products, textiles and plastics, of which 73.69 million yuan worth of goods have been sent to ROK since the FTAs approval.

Taicang Customs said that the Electronic Origin Data Exchange System (EODES) has been adopted recently by customs departments in both China and South Korea to phase out paper documents of certification of origin and build up a convenient and efficient online system to exchange information.

Taicang Customs has been promoting EODES to local export enterprises since the implementation of China-ROK FTA. A special service window has been opened to guide enterprises' applications related to Customs. Commodities under the China-ROK FTA are able to enjoy a simplified customs clearance procedure.

Source:chinadaily.com.cn Editor:Nicky