The Regional Comprehensive Economic Partnership (RCEP) came into effect for 15 member countries on June 2 this year, and as of Sept 2, Guiyang Customs had issued a total of 110 export certificates of origin under the partnership, reducing tariffs by 145 million yuan. The main exports to benefit include chemical products, mineral products, and food.
More and more foreign trade enterprises in Guizhou are seizing the opportunity to expand their overseas operations. "Our company mainly exports chemical products such as phosphoric acid to RCEP countries like Japan, Vietnam, and Thailand," said Chai Xiaolu, a salesperson at Wengfu International Trade Co.
"In the first quarter after the RCEP came into full effect, we applied for 27 RCEP certificates of origin with a value of over 90 million yuan and enjoyed about 470,000 yuan in tariff reductions," Chai said.
Looking at the overall foreign trade situation, the company's business in other RCEP member countries is expected to increase by 10 percent compared to last year.
Tariff reduction is a key focus of the RCEP. Under the agreement, more than 90 percent of goods traded within the region will eventually achieve zero tariffs.
Tariff reduction, rules of origin accumulation, and trade facilitation policies are bringing tangible benefits to Guizhou's foreign trade enterprises.
To help foreign trade enterprises expand in RCEP markets, Guiyang Customs has conducted policy briefings on the RCEP by compiling lists of key enterprises and customizing preferential benefit plans.
In addition, Guiyang Customs is promoting the development of a smart customs system, optimizing the business environment, and offering convenient services such as "smart review + self-printing" and realizing the instant application and instant approval of certificates.
In the first eight months of this year, Guiyang Customs issued a total of 277 RCEP certificates of origin for enterprises, benefiting 385 million yuan in goods.