XGMA exports Vietnam loaders to achieve "zero" tariffs

The reporter recently learned from the Xiamen Inspection and Quarantine Bureau that in the first quarter of the XGMC Group Co., Ltd., with eight new applications for the China-ASEAN Free Trade Area Concessionary Origin (FORM E), it was able to export to Vietnam as a zero tariff.

The Xiamen Inspection and Quarantine Bureau told reporters that Vietnam has been strengthening its infrastructure construction in recent years, but the domestic machinery industry is relatively weak, and it needs to import large quantities of machinery, production equipment and other products from abroad each year, which has a large market for machinery. Due to the high price of machinery and equipment in Europe and the United States, China's loaders are of high quality and low price, and they have a good prospect in Vietnam. Pursuant to the "China-ASEAN Framework Agreement on Comprehensive Economic Cooperation Agreement on Goods Trade" and Vietnam's list of tax-reduction products and tariff rates, the free trade zone tax rate for loaders is zero. Vietnam offers preferential tariffs on zero-tariff concessions to loaders. . The FORME Certificate serves as a "coupon" and booster here.

Xiagong exported its Vietnamese loader to two formal FORME certificates at the end of 2007, achieving a breakthrough of zero, involving an amount of USD 88,000. “In the first quarter of this year, 8 copies were made at a glance. This kind of opener shows that XGMA products have already tasted the sweetness of using foreign tariff preferences.” explained Xiamen Xiamen Inspection and Quarantine Bureau staff handling the Xiamen workers.

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