Quanzhou Changbo Plastic Co Ltd obtains Fujian's first RCEP certificate of origin for exports to Indonesia. [Photo by Ye Beiling/Chinanews.com]
On Jan 3, Quanzhou Customs issued a certificate of origin under the Regional Comprehensive Economic Partnership (RCEP) agreement to Quanzhou Changbo Plastic Co Ltd for a batch of PP plastic sheets that will be exported to Indonesia.
It is the first RCEP certificate of origin that has been issued in Fujian province for exports to Indonesia since the world's largest free trade deal took effect in the Southeast Asian country on Jan 2.
With the certificate, the exports valued at 249,000 yuan ($36,146.87) can enjoy a tariff reduction of about 37,500 yuan. In addition to the preferential tariff policies, the company also enjoyed a highly efficient customs clearance, according to the company's customs manager surnamed Zheng.
In recent years, Quanzhou has seen close economic and trade exchanges with Indonesia. According to Quanzhou Customs, in the first 11 months of 2022, Quanzhou's imports and exports to Indonesia totaled about 4.91 billion yuan, an increase of 18.7 percent year-on-year. Among them, the exports were 3.96 billion yuan, up 17.41 percent year-on-year while the imports were 946 million yuan, up 24.42 percent year-on-year.
According to Zhao Yanrong, an official with Quanzhou Customs, at present, Quanzhou's main exports to Indonesia are aquatic products, mechanical accessories, textiles and clothing, shoes and construction stones. Now, thanks to RCEP, most of the commodities can enjoy a zero-tariff policy.
So far, the RCEP agreement has taken effect for 14 of its 15 members, which is comprised of 10 ASEAN (Association of Southeast Asian Nations) member countries and their five trading partners, namely China, Japan, the Republic of Korea, Australia, and New Zealand. Over the past year, the RCEP has helped lower tariffs, facilitated the integration of industrial chains and benefited consumers in RCEP markets.
Since the RCEP agreement took effect on Jan 1, 2022, Quanzhou Customs has been working hard to teach local companies about relevant policies to promote stable foreign trade growth.
Statistics indicate that as of Dec 31, 2022, Quanzhou Customs has issued 3,365 RCEP certificates of origin worth about 1.28 billion yuan to local companies, which are mainly for products such as umbrellas, shoe parts and plastic products.
Quanzhou Customs teaches local companies about RCEP-relevant policies. [Photo by Han Yuzhen/Chinanews.com]