China, Georgia FTA takes effect
Quarantine authorities of China's Shandong Province issued a certificate of origin for a batch of mirror boards to be exported to Georgia, the first such certificate signed under the free trade agreement between the two countries.
A truck transports a container to be shipped abroad at the Port of Qingdao, east China´s Shandong province, on July 13, 2017. [Photo: IC]
The agreement went into effect Monday. It is the 15th free trade agreement involving China that has taken effect so far, and the first one China signed with a country along the Silk Road Economic Belt.
Officials with Shandong Entry-Exit Inspection and Quarantine Bureau said the acrylic mirror boards, produced by a company in Jinan City, were worth 18,525 U.S. dollars.
The products will enjoy an exemption of import duty with a tax rate of 5 percent in Georgia, thanks to the certificate of origin.
According to the agreement, China will impose no tariff on 93.9 percent of products from Georgia, while Georgia will impose no tariff on 96.5 percent of products from China.