The Cross-Straits Economic Cooperation Framework Agreement (ECFA) has come to effect. Yesterday, the Ningbo Entry and Exit Inspection and Quarantine Bureau issued the first ECFA certificate of origin to the Besk International Trade Co. Ltd. The customs duty for the multi-roll bearings had dropped from last year’s 10% to 5% this year.

　　The ECFA C/O is a certificate for enjoying privileges. ECFA was signed on June 29. It stipulates that since Jan 1, 2011 the customs duty for 800 product items will be gradually dropping to zero within three years.

　　Since the beginning of this year, aquatic products, textiles, stationery and other categories of Ningbo will be able to enjoy the preferences with the CEFA O/C. Exporting businesses can reduce their costs if they have the ECFA O/C as soon as possible. Companies can apply for the certificate from the inspection and quarantine bureau and the trade promotion bureau.