Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News Foreign media say the China-South Korea Free Trade Agreement may impact small-scale traders

Foreign media say the China-South Korea Free Trade Agreement may impact small-scale traders



Japan’s “Diplomat” website reported on December 7 that substantive negotiations on the China-South Korea Free Trade Agreement have been completed. Starting from the implementation date of the …

Japan’s “Diplomat” website reported on December 7 that substantive negotiations on the China-South Korea Free Trade Agreement have been completed. Starting from the implementation date of the agreement, the two countries will eliminate import tariffs on 90% of products within 20 years. This could be a fatal blow to small traders who take advantage of tariffs between the two countries to engage in trade.
Kim Jeong-hoon, public relations and marketing director of Pyeongtaek Port Company in Gyeonggi Province, South Korea, said that since China and South Korea launched free trade area negotiations in 2012, the two countries have increased law enforcement on product smuggling and other activities, resulting in a sharp decline in the number of small traders traveling between China and South Korea. . These small traders take advantage of the tariffs between China and South Korea to engage in trading activities including cosmetics, small household appliances and agricultural products.
Incheon Port is an important port connecting South Korea and China (Qingdao and Weihai). In 2013, the passenger flow of the port’s international passenger terminal was 918,000, of which 30% were small traders. This proportion was 15 percentage points lower than in 2011. At Pyeongtaek Port, another important hub, the proportion of small traders in passenger traffic dropped from 66% in 2011 to 51% in 2013.
Jin Zhenxun said that the reduction in the number of small traders is an inevitable trend, and the focus now is to try to improve their welfare, because they are mostly disadvantaged groups in society. Most of the small traders are elderly people over 50 years old and do not have any stable income.

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