China Council For The Promotion Of International Trade

China Council for the promotion of international trade and local organizations recently launched the issuance of certificate of origin of China Pakistan Free Trade Agreement. On the first day, 26 certificates of origin of China Pakistan Free Trade Agreement were issued for 21 enterprises in 7 provinces and cities including Shandong and Zhejiang, mainly involving mechanical and electrical products, textiles and chemical products, involving an export value of US $940000, It is estimated that a total of 51000 U.S. dollars of tariff reduction and exemption can be provided for enterprises exporting to Pakistan.

According to the tariff reduction arrangement of the second phase protocol of China Pakistan Free Trade Agreement to be implemented in 2020, Pakistan has implemented zero tariff on 45% tax items, will gradually implement zero tariff on 30% tax items in the next five to 13 years, and implement 20% partial tax reduction on 5% tax items from January 1, 2022. The certificate of origin of China Pakistan FTA is a written certificate for China's export products to enjoy tariff reduction and other preferential treatment in Pakistan. Enterprises can enjoy preferential tariff reduction and exemption in Pakistan by applying for and using the certificate in time, which can effectively improve the competitiveness of export products in Pakistan market.

In the first 10 months of this year, the number of certificates of origin issued by the China Council for the promotion of trade (CCPIT) for Chinese enterprises under FTA and preferential trade arrangements increased by 26% over the same period of last year, involving an export value of 55.4 billion US dollars, a year-on-year increase of 107%, and at least 2.77 billion US dollars of tariff reduction and exemption for the export goods of Chinese enterprises.

(source: China Council for the promotion of international trade)