CHINA-SOUTH KOREA TRADE PACT TO GIVE ADDITIONAL BOOST TO K-COSMETICS IN CHINA MARKET
January 3rd, 2015
THE SOUTH Korean cosmetics sector is hoping that a new bilateral free trade agreement (FTA) struck between its country and China in November will ease sales of their products into the world’s largest market.This is despite the fact that the deal did not make much headway in reducing Chinese duties, given the FTA leaves cosmetics in a ‘hyper-sensitive goods’ category for Beijing. China currently levies 6.5%-10% import duties on South Korean cosmetics. Still, the South Korean cosmetics industry is pleased with the agreement, forecasting it will open the door ...
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