FTA refers to the meaning of free trade agreement. FTA, Preferential Trade Agreement (PTA) and Customs Union Agreement (CUA) are all included in the scope of RTA.
Nevertheless, for foreign trade companies in actual use, it is very necessary to understand what FTS means. Realistically speaking, many FTA agreements may not amount to completely free trade. Therefore, there is a tendency to mix up the concepts of FTA and RTA. Sometimes FTA and RTA also refer to free trade zones or quasi-free trade zones based on certain trade agreements.
FTA is a China-Pakistan certificate of origin:
"Preferential Certificate of Origin for the China-Pakistan Free Trade Zone"
A "Preferential Certificate of Origin for the China-Pakistan Free Trade Area" can be issued to Pakistan. From January 1, 2006, the two sides will implement zero tariffs and preferential tariffs on more than 3,000 tariff items of products that will be subject to tariff reduction in advance. The tariffs on 486 8-digit zero-tariff items originating from China will be gradually reduced in three times within two years.
<Preferential Trade Arrangement between China and Pakistan> The certificate of origin also adopts the prescribed unified format FORMA, and the application procedures are the same as FORMA.
FTA cannot be issued by CCPIT (CCPIT can only issue general certificates of origin C/O), and China-Pakistan certificates of origin (including FORMA, FORMF, FORME) need to be issued by the Commodity Inspection Bureau.
Impact of FTA on regional economy:
The impact of FTA on the regional economy can be roughly divided into two categories:
The first category refers to the direct impact on the trade development of each member after the members in the region eliminate tariffs and trade quantity restrictions between each other;
The second category refers to the indirect effect of accelerating economic growth of each member country after the conclusion of the FTA due to improved production efficiency and increased capital accumulation within the region. The two are also called static effects and dynamic effects respectively.
This is the end of the introduction to FTA in this issue. If you want to get more information about FTA, please pay attention and we will continue to answer your questions~
