RCEP boosts Guizhou companies' global trade

Since the Regional Comprehensive Economic Partnership Agreement (RCEP) came into effect on Jan 1, 2022, Southwest China's Guizhou province has formulated relevant policies for enterprises to enjoy the tariff price advantage and improvement of customs clearance facilitation of the agreement.

In 2022, imports and exports between Guizhou and RCEP member countries reached 30.75 billion yuan ($4.52 billion), a year-on-year increase of 58.9 percent.

The workshop of Guiyang Zhong An Technology Group [Photo/ddcpc website]

RCEP simplifies the procedures for customs clearance of goods, improves the efficiency of customs clearance, and strongly promotes economic cooperation and trade growth among member countries.

"After RCEP came into effect, the customs clearance between member countries has been faster, which is very helpful for companies looking to get more overseas orders," said Zhang Jidi, a foreign trade salesman of Guiyang Zhong An Technology Group.

Now, the wires and cables exported by the company only require half the amount of time for customs clearance abroad as before, which makes it easier to cooperate with foreign companies that urgently need to purchase supplies, and helps the company expand into overseas markets, Zhang said.

The wires and cables produced by Guiyang Zhong An Technology Group [Photo/ddcpc website]

In recent years, Guiyang Customs has been helping Guizhou enterprises make the most of the RCEP agreement, and helped them solve difficulties encountered while applying for certificates of origin.

In 2022, Guiyang Customs issued a total of 396 RCEP certificates of origin, with a value of $43.59 million.