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Macao's 1st CEPA textile bound for mainland
(Xinhua)
Updated: 2004-06-09 11:03

The first batch of textile products made in Macao was bound for China's mainland Tuesday under the non-tariff trade terms guaranteed by the Mainland/Macao Closer Economic Partnership Arrangement (CEPA).

Wong Tim Fok, general manager of the Chong'ou Textile Co Ltd said that although the batch of children's clothes are not large in amount, it pioneered a trading channel hooking up Macao's external links to the United States and Europe with China's mainland.

Upon Monday, the Economic Bureau of the Macao Special Administrative Region (SAR) government has received 42 applications for non-tariff export under CEPA and issued 23 product origin warrants.

Both of the Mainland/Hong Kong and Mainland/Macao CEPA took effect on January 1 this year, setting the legal framework for the endeavors to phase out tariffs and non-tariff goods trade barriers, phase in liberalization of services trade, and promote trade and investment facilitation for common development.

The textile industry in Macao is expected to be the foremost beneficiary of CEPA since nearly 80 percent of Macao's current exports are textile and garments. So far, some 68 percent of all the export from Macao went to the United States and the European Union.

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