Taiwan products enjoy US$1.1 million tariff cut at Jiangsu customs

SINCE implementation of the Economic Cooperation Framework Agreement's (ECFA ) early harvest list roll-out in January, there have been 259 batches of Taiwanese products valued at US$48.5 million enjoying tariff exemptions or reductions at the Jiangsu customs during the first two months of the year, representing an overall saving of CNY6.9 million (US$1.1 million), Xinhua reports.


Organic chemicals, plastics and machinery were the major items of favoured imports from Taiwan under the ECFA early harvest scheme, valued at $37.7 million, and accounting for 70 per cent of the total.


Forecasts show that tariff exemptions or reductions at the Jiangsu customs for the Taiwan imports under the scheme will likely surpass CNY200 million this year.


Jiangsu province leads provincial league tables in Taiwanese investment. ECFA has further strengthened ties between the two. Nanjing customs expects to see fast growth of imports from Taiwan under ECFA as customs clearance facilitation measures continue to be implemented.


Nanjing customs has set up an exclusive counter for ECFA cargo and accepts appointments for clearance service outside working hours.
(Source:http://www.schednet.com)