China, Kyrgyzstan to open third border crossing in 2024: Kyrgyz PM

China

China, Kyrgyzstan to open third border crossing in 2024: Kyrgyz PM

2024-06-22 09:53 Last Updated At：16:27

Kyrgyzstan and China have agreed to open a new crossing this year to increase the throughput capacity of the border checkpoints as trade between the two countries is growing every year and reached over 19 billion U.S. dollars in 2023, said Kyrgyz Prime Minister Akylbek Japarov.

China was Kyrgyzstan's top trading partner in 2023, accounting for 34.7 percent of Kyrgyzstan's foreign trade, Kyrgyzstan's National Statistics Committee reported in February.

In a recent interview with China Central Television (CCTV) in Bishkek, Japarov highlighted the remarkable achievements the country has made in the past three years and expressed his expectations for further cooperation with China.

"In this three-year period, the reforms proposed by President Sadyr Zhaparov have yielded significant results. Our GDP has doubled, the fiscal budget has increased by two times, and we have created favorable conditions for entrepreneurs. The trade and services sector accounts for 52 percent of our GDP structure, indicating a remarkable development. We have engaged in discussions with the Chinese government, aiming to transform customs transit services into a 7-day, 14-hour operation. In the near future, we expect these border agencies to operate 24 hours a day. These efforts will create advantageous conditions for entrepreneurs, facilitate a rapid increase in goods circulation, and enhance Kyrgyzstan's customs clearance capabilities," said Japarov.

"Currently, we share a border of over 1,000 kilometers with the People's Republic of China, and we have two land border crossings. According to statistics released by China, bilateral trade through these two border crossings exceeded 19 billion U.S. dollars last year. This year, we will open the third border crossing, which has been approved by both Kyrgyz and Chinese governments. Now we are working with the local government of [China's] Xinjiang Uygur Autonomous Region to get ready to start building this border crossing," said Japarov.

China to impose FTA tariff rates on certain Serbian imports

2024-06-28 04:31 Last Updated At：05:17

China will impose the tariff rates it has pledged under a free trade agreement (FTA) signed with Serbia on certain imports from the country, the Customs Tariff Commission of the State Council announced Thursday.

The adjustment will take effect on July 1, 2024, the same day the FTA comes into force.

The implementation of the agreement will further stimulate the potential for bilateral trade and investment cooperation, promoting higher-level cooperation between the two countries, the commission said in a statement.

After the deal comes into force, China will exempt tariffs on some Serbian imports such as electric generators, electric motors, tires, beef, wine and nuts, according to China's Ministry of Commerce.

The FTA, signed last October, is the 22nd of its kind for China and the first one inked with a central or eastern European country, making Serbia China's 29th global free trade partner.