The Full Implementation Of Rcep Has Injected Continuous Momentum Into Regional Trade

The 2023 RCEP Local Government and Sister City Cooperation (Huangshan) Forum opened in Huangshan, Anhui on the 9th. About 500 Chinese and foreign guests gathered together to discuss the new opportunities brought about by the full implementation of RCEP ("Regional Comprehensive Economic Partnership Agreement") and create new opportunities for regional trade. Injected new momentum.

"I am very happy to see the growth of trade between China and RCEP member countries. For example, in 2022, China's import and export with Indonesia, Singapore, Myanmar, Cambodia and Laos will all increase by more than 20%. These data confirm the economic benefits brought by RCEP. "ASEAN Secretary-General Gao Jinhong said in a video speech at the opening ceremony of the forum.

Just a week ago, RCEP officially entered into force for the Philippines, and the agreement has now come into full force for the 15 signatories. As RCEP enters a new stage of full implementation, this agreement, which covers the world's largest population, largest economic and trade scale, and greatest development potential, will inject strong momentum into regional development.

The person in charge of the International Department of the Ministry of Commerce said that the full entry into force of RCEP has created more favorable conditions for China to expand trade in goods with member parties, and will also drive corresponding service trade and investment opening up, and promote trade facilitation and the improvement of the business environment. On the day when RCEP took full effect, Chizhou Customs, a subsidiary of Hefei Customs, issued a certificate of origin for the chemical raw materials exported to the Philippines by Anhui Xingxin New Materials Co., Ltd. After the company’s 6.25 tons of goods arrived in the Philippines, they could reduce or exempt 28,000 yuan in tariffs.

"The tariffs for exports to the Philippines and other ASEAN countries were relatively high before. Now, through the issuance of RCEP certificates of origin, the tariffs have been greatly reduced and the cost has been saved." Lu Yuxiang, manager of the supply and marketing department of Anhui Xingxin New Materials Co., Ltd., said that RCEP also brought customs clearance for the company. Efficiency improvement and other multiple dividends.

The person in charge of the International Department of the Ministry of Commerce said that RCEP superimposes the bilateral free trade agreement that has already taken effect, creating good conditions for enterprises to enjoy better benefits and helping enterprises reduce trade costs. In the first quarter of 2023, under RCEP, Chinese enterprises can enjoy export value of 62.29 billion yuan, and can enjoy tariff reduction of 930 million yuan from the importing country; enjoy import value of 18.25 billion yuan, and tax reduction of 480 million yuan.

Cumulative rules of origin, back-to-back certificates of origin, approved exporter system... RCEP’s series of system innovations will help enterprises in the region significantly reduce costs, improve trade efficiency, and strengthen cooperation in the industrial chain and supply chain.

In the branch of Anhui Heli Co., Ltd. located in Bangkok, Thailand, two warehouses with a total area of 6,000 square meters store various types of forklifts. After RCEP takes effect, forklifts will be shipped from here to Southeast Asian countries such as Vietnam and the Philippines every month, and they will enjoy zero-tariff benefits through the back-to-back certificate of origin policy.

"By issuing back-to-back certificates of origin, products directly exported from Thailand to other countries can enjoy the same preferential treatment as exports from China, which allows us to serve surrounding markets more conveniently and improve competitiveness." General Manager of Anhui Heli Co., Ltd. Zhou Jun said that the sharing of "institutional dividends" between regions has greatly improved trade efficiency and enhanced inter-regional exchanges and cooperation.

"The application of the cumulative rules of origin lowers the threshold for products to obtain the qualification of origin and promotes the deep integration of the industrial chain; the back-to-back certificate of origin system allows import and export companies to have greater flexibility in terms of industrial layout, sales strategies, and logistics arrangements. RCEP The superposition effect of preferential policies will boost China's opening up to the outside world at a higher level," said Yang Xinwei, a fourth-level researcher at the Tariff Department of Hefei Customs.

RCEP continues to release dividends, which has doubled the confidence of Chinese companies. More and more Chinese enterprises are expanding the scale of trade with RCEP member countries and increasing investment. According to data from the Ministry of Commerce, from January to April 2023, the total import and export volume between China and other RCEP members was 4.12 trillion yuan, a year-on-year increase of 7.3%, accounting for 30.9% of China's total foreign trade import and export.