Beginning October 1, China will apply agreed tariffs on 7,391
products imported from Chile. Tariffs on 2,834 products relating to
metals, nonmetal minerals and non-ferrous metals will drop to
zero.
The Chinese Ministry of Finance said in
Beijing Wednesday that under the free trade agreement between
China and Chile, 97 percent of bilateral trade items will be
gradually exempted from import tariffs in the next ten years.
The ministry said China will also reduce tariffs on 1,960
products imported from Chile - such as some woven products and
vegetables - by 50 percent beginning October 1.
Tariffs on 975 Chile-made products like films and construction
materials will be cut by 20 percent, and 10 percent will be shaved
off tariffs on another 1,622 products including grape wine,
medicines and commodities.
According to the bilateral free trade agreement that came into
effect on October 1, Chile will apply agreed tariffs on 7,750
products imported from China. Tariffs on 5,891 products such as
vegetables, fruit, mechanical and electronic equipment will drop to
zero immediately.
The ministry said bilateral trade between China and Chile had
been growing at over 20 percent a year since 2000. Most of the
products exported from Chile to China are mineral and forestry
products, while the products exported from China to Chile are
textiles, light industrial products, electronic and machinery
products.
Since initiating free trade talks in November 2004, China and
Chile went through five rounds of negotiations before reaching
consensus on November 18, 2005. Chile is the first Latin American
country to sign a free trade agreement with China.
(Xinhua News Agency September 21, 2006)