China to reduce tariffs for Fresh Zealand wood, paper



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China has eliminated or reduced tariffs on 75 wood and paper tariff traces for Fresh Zealand merchandise for the reason that present FTA entered into force in 2008.

Revealed On 3 Apr 2022

China will implement an upgrade to the free commerce settlement between Beijing and Wellington to keep away with tariffs on 12 wood and paper merchandise imported from Fresh Zealand from April 7, the Ministry of Finance acknowledged on Sunday.

The circulate follows the deal signed by the two governments in January last one year to upgrade their present free commerce pact, allowing 99 percent of Fresh Zealand’s $3bn wood and paper commerce to China to salvage tariff-free receive admission to over a 10-one year implementation length.

Import tariffs for merchandise reminiscent of lavatory or facial tissue stock and paper damaged-down for writing will likely be reduced to 6.8 percent and 4.5 percent from recent rates of seven.5 percent and 5 percent, respectively, and would maybe be step by step reduce over the next 10 years to reach zero.

“2022 marks the 50th anniversary of the diplomatic kinfolk between China and Fresh Zealand and April 7th is the 14th anniversary of the signing of the China-Fresh Zealand Free Alternate Agreement (FTA),” the finance ministry acknowledged in the explain.

“The implementation of the agreed tariff rates will extra promote commerce and investment between the two nations.”

China has eliminated or reduced tariffs on 75 wood and paper tariff traces for Fresh Zealand merchandise for the reason that present FTA entered into force in 2008.

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