Certificate of origin helps textile and clothing export companies gain some competitive advantages
The textile industry is a traditional advantageous industry in Nantong. With the current world economic downturn, local textile and garment export companies are also facing severe challenges. Since the China-South Korea and China-Australia free trade agreements came into effect, it has brought benefits to the export of labor-intensive products represented by textiles and clothing. Statistics show that in the first quarter of this year, the Nantong Inspection and Quarantine Bureau issued a total of 2,625 certificates of origin for the China-Korea and China-Australia Free Trade Agreements, with a visa amount of US$109 million. Companies can obtain about 34.03 million yuan in tariff reductions from the importing country.
The certificate of origin of the China-South Korea and China-Australia free trade agreements has won some competitive advantages and profit margins for export companies. A textile technology company in Nantong has applied for more than 100 China-Australia certificates of origin from the Inspection and Quarantine Bureau for its light textile products since the China-Australia Free Trade Agreement came into effect, with a visa amount of US$2.356 million, and import tariffs of US$117,800. , and won multiple orders for the company. An outdoor products Co., Ltd. in Nantong has applied for five China-South Korea certificates of origin for the tents it produces since this year. The visa amount is US$346,000, which can exempt the importing country from tariffs of US$17,300, which has accumulated advantages for the company to further expand exports.
Our country has signed free trade agreements with many countries, and both parties to the agreements have formulated tax reduction lists for various goods. As stipulated in the China-Switzerland, China-Australia, and China-South Korea free trade agreements, textiles exported from China are basically subject to zero tariffs. Nantong Inspection and Quarantine Bureau reminds all textile and garment export enterprises to make full use of the preferential tariff policies under the free trade agreement, expand trade markets and partners, actively apply for certificates of origin, strive for survival space for enterprises, and help enterprises escape from homogeneous competition and Further transformation and upgrading will be achieved through “accumulation and accumulation”.
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