South Korea apparel to add a touch of elegance
Trendy apparel, comfy footwear and stylish accessories from South Korea are expected to gain access to China’s huge markets as a bilateral free trade agreement took effect on Sunday.
Beijing will eliminate tariffs on91 percent ofKorean products over the next 20 years. Tariffs on garments, footwear and headwear will decrease from 15 percent to zero in 10 to 20 years.
Seoul will also reduce tariffs on 92 percent of Chinese goods. The FTA is expected to help both countries boost exports of their goods and services.
South Korean garment makers said the clothing trade between China and South Korea is set for a quantum leap.
Guo Rongming, manager, China, EXR, a South Korean clothing brand, said removal of tariffs would help EXR Korea Co Ltd export more to China.
TheFTAis expected to sound a death knell for rampant counterfeits of SouthKorean products in the Chinese market, he said.