China will carry out 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.
China to impose FTA tariff rates on certain Serbian imports
China to impose FTA tariff rates on certain Serbian imports
China to impose FTA tariff rates on certain Serbian imports
China and Peru's comprehensive strategic partnership continues to flourish under the strategic guidance of head-of-state diplomacy, highlighted during Peruvian President Dina Ercilia Boluarte Zegarra's recent visit to China.
Boluarte's visit, from June 25 to 29 at the invitation of President Xi Jinping, resulted in the signing of multiple bilateral cooperation agreements across trade, digital economy, technological innovation, inspection and quarantine, and media sectors.
Additionally, both nations announced the completion of negotiations to upgrade their free trade agreement.
Cai Wei, director-general of the Department of Latin American and Caribbean Affairs at the Ministry of Foreign Affairs, emphasized the strategic significance and direction set by two head-of-state meetings since last year's Asia-Pacific Economic Cooperation (APEC) summit.
"Peru stands among the earliest Latin American countries to establish diplomatic ties and forge a comprehensive strategic partnership with the People's Republic of China. It is also the earliest Latin American country to sign a comprehensive free trade agreement with China. In recent years, through joint efforts, cooperation across various sectors between China and Peru has yielded fruitful outcomes, with Chinese companies playing a pivotal role in major collaborative projects aimed at enhancing Peru's economic development and improving livelihoods. I believe that under the strategic leadership of both leaders, the comprehensive strategic partnership between China and Peru will continue to thrive and bear fruit, embracing a brighter future," Cai said in an interview with China Central Television (CCTV).
Cai further noted that China and Latin American and Caribbean countries are pivotal components of the "Global South" and share developing country status, and China always holds long-term strategic view towards its relations with Latin America
The initiative proposed a decade ago to establish a community with a shared future between China and Latin American countries has garnered growing support from nations across Latin America and the Caribbean.
Under head-of-state diplomacy, China-Latin America relations have significantly advanced, ushering in an era characterized by equality, mutual benefit, innovation, openness, and improvements for their populations.
"This year, Peru and Brazil will host the APEC Leaders' Informal Meeting and the G20 Leaders' Summit consecutively. Global governance is entering a pivotal 'Latin American moment', with global attention turning towards Latin America. China strongly backs Peru and Brazil in their hosting roles and anticipates these gatherings will positively contribute to advancing global economic recovery and sustainable development," Cai concluded.
China-Peru diplomatic relations strengthened through head-of-state diplomacy: official
