SHANGHAI: Shanghai Customs District, by using a green clearance channel, fast released 1.2 tons of fresh cherries from Australia on declaration by Shanghai Esen Agro Products Company. It is the first import consignment since China-Australia FTA (Free Trade Agreement) took effect.
“It can be expected that Australian share will grow a lot at even more competitive prices on Shanghai fruit market,” said Huang Xianhua, General Manager of Shanghai Ouheng Import & Export Co., Ltd. Reportedly, Australian fruits are higher in quality but more pricy due to higher labor cost. Thus the duty reduction will help their expansion on the Chinese market.
According to Shanghai Customs’ statistics, from January to November 2015, totally 586,000 tons of fruits, worth USD880 million, had been imported to Shanghai under preferential trade agreements, respectively up 21.7% and 37.2% year-on-year. Totally 10 countries/regions of origin benefited from China’s duty preferences, with Australia added this year.
With China-Australia FTA effective on December 20, Chinese consumers can enjoy cheaper Australian commodities like beef, mutton, dairy products, wine, lobsters, and fruits. For Chinese exporters, zero-duty HS Codes and trade volume offered by Australia will finally achieve 100%, duty reduction transition to end in 5 years. Thus both Chinese products and exporters can get a lot of opportunities to broaden overseas market.
