China Leather news: after China and Australia jointly announced the substantial conclusion of the China Australia free trade negotiation agreement, the two sides signed a letter of intent on a free trade agreement yesterday. According to BBC news, Canberra said that after several rounds of negotiations, the China Australia free trade agreement has finally come to fruition, which will open the Chinese market with a total value of about tens of billions of dollars for Australia. In 2013, the total trade volume between China and Australia was a $150 billion (about US $130 billion). The Australian government believes that the implementation of the free trade agreement will add another a $20 billion (about US $17.5 billion) to the bilateral trade volume of the two countries.

Over the past two decades, the trade between China and Australia has grown steadily. At present, China has become a bilateral trade partner of Australia *. According to the data released by the Ministry of Commerce, as of September this year, China continued to be Australia's * major trading partner, * major export destination and * major import source.

The BBC report specifically mentioned that 85% of Australian products exported to China will not be subject to tariffs, including raw leather and leather products. After the agreement is fully implemented, the duty-free products will increase to more than 95%. The website of the Australian Broadcasting Corporation reported that Australian farmers and leather industry exporters welcomed the signing of the China Australia Free Trade Agreement, because this means that Australian beef and raw leather products can enter the huge Chinese market duty-free in the next few years.

According to China leather. Com, the annual average value of raw and finished leather exported from Australia's leather industry to China is about 896 million US dollars. The tariff rate of raw and finished leather exported from Australia's cattle and sheep skins to China is between 5% and 14%. The Australian Broadcasting Corporation reported that these tariff rates will be reduced to zero in the next two to seven years. After the formal implementation of the China Australia Free Trade Agreement, the total benefits of the free trade agreement for the Australian leather industry may reach US $6 billion by 2030.

From the trade data of China and Australia recently released by the Ministry of Commerce, the reporter found that in the first three quarters of this year, Australia exported raw hides (except fur) and leather totaled 832 million US dollars, of which the total export to China was about 597 million US dollars, accounting for more than 70%, which confirmed the report in the news that China is the main consumer market of Australian raw hides. David Larkin, a member of the FTA red meat trade negotiations, said that the gradual elimination of tariff costs would have a positive impact on Australian cattle and sheep farmers, processing plants and exporters, and Chinese customers and consumers would no longer need to pay the premium arising from tariffs.

Shoes, boots, luggage and other products are also the main trade products between China and Australia. According to the data of the Ministry of Commerce, in the first three quarters of this year, the total amount of shoes and boots imported by Australia was 1.217 billion US dollars, and the total amount of imports from China was 769 million US dollars, accounting for about 60%; In addition, Australia imported leather products and bags from China totaled US $516 million, up 0.4% year on year. According to BBC news, another key point in the China Australia Free Trade Agreement is that Chinese exporters will be exempted from tariffs on clothing, shoes, automobiles and electronic products exported to Australia.