According to the report of the Eurasian Economic Commission, the Eurasian Economic Union decided not to grant GSP tariff preference to Chinese products exported to the Union from October 12, 2021. The relevant matters are hereby announced as follows:
1. Since October 12, 2021, the Customs will no longer issue GSP certificates of origin for goods exported to Eurasian Economic Union member countries.
2. If the consignors of goods exported to Eurasian Economic Union member countries need the certificate of origin, they can apply for the issuance of non-preferential certificate of origin.
What is GSP tariff preference?
GSP, is a kind of tariff system, which refers to the general, non-discriminatory and nonreciprocal tariff system given by industrial developed countries to manufactured goods and semi-manufactured goods exported from developing countries or regions.
This is after the Japanese Ministry of Finance no longer granted GSP tariff preference to Chinese goods exported to Japan since April 1, 2019, the newly added export goods exported to Eurasian Economic Union member countries have cancelled the issuance of GSP certificate of origin.
What are the member countries of Eurasian Economic Union?
Include Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia.
How should export enterprises respond and reduce the impact of this policy?
It is suggested that relevant enterprises seek diversified development strategies: pay attention to the promotion and implementation of various FTA policies, make full use of the FTA signed between China and ASEAN, Chile, Australia, Switzerland and other countries and regions, apply for various certificates of origin from the customs, and enjoy preferential tariffs of importers. At the same time. China is accelerating the negotiation process of the China-Japan Korea Free Trade Area and the Regional Comprehensive Economic Partnership Agreement (RCEP). Once these two free trade agreements are established, a more comprehensive and mutually beneficial trade arrangement will be reached.
Post time: Oct-22-2021