Oct. 14, 2020 - On October 12, China and Cambodia officially signed the Free Trade Agreement. In terms of trade in goods, China has granted Cambodia 97.53 percent of the total tariff items for trade in goods. Cambodia has granted zero tariff to 90 percent of tariff items to China, of which 87.5 percent of products will be tariff-free immediately after the agreement comes into force. In terms of specific products, Cambodia has included textile materials and products, mechanical and electrical products, miscellaneous products, metal products, transportation vehicles and other products of China's priority. There is no agreement tax rate for sanitary ceramic products with customs codes of 69101000 and 69109000, and the general tax rate is 7.0% CIF, which is not included in the tariff concession.
According to the data, the possible reasons for the failure to display the information of tax reduction arrangement include: the product is an exceptional product and has not been included in the tax reduction arrangement. The code of the product has undergone tax item conversion since the establishment of the tax reduction arrangement, and the latest code cannot be corresponded temporarily. Member states of CAFTA: Vietnam, Laos and Cambodia has not been integrated into the system for the time being, and others reason. According to an industry person who has been engaged in building materials for 30 years in Cambodia, the real estate market in Phnom Penh is developing rapidly, but the supporting building materials market is still in its infancy in Cambodia. The industrial chain of building materials products is too scattered to provide one-stop service for building materials.
With the signing of the free trade agreement between China and Cambodia, China's sanitary ceramic products will be accelerated to enter the Cambodian market. According to customs statistics, from January to June 2020, China exported 6,9101000 and 6,9109000 sanitary ceramics to Cambodia in the amount of RMB 67,034,295 and RMB 250,964 respectively. In the first three quarters of this year, ASEAN became China's largest foreign trade partner, with import and export growth of 7.7%, accounting for 14.6% and trade volume reaching 3.38 trillion yuan. Many ASEAN countries have no sanitary ware factories or only a few sanitary ceramic factories, which is also a great opportunity for Chinese sanitary ceramic enterprises.
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