RCEP has delivered impressive results and has been fully effective for one year

Release time:Jun 06, 2024 05:33 AM

The Regional Comprehensive Economic Partnership Agreement is the free trade agreement covering the world's largest population and largest economic and trade scale. More than 90% of goods trade in the region will eventually achieve zero tariffs. By June this year, RCEP will have been fully implemented for one year. Since its official implementation, RCEP has initially formed a new situation of regional cooperation in which dividends are shared and development is promoted, and the regional economy has entered a new stage of high-quality development.

On November 15, 2020, the 10 ASEAN countries and Australia, China, Japan, South Korea, and New Zealand jointly signed the RCEP and promoted the agreement to officially enter into force on January 1, 2022. my country's RCEP officially came into effect on January 1, 2022.

On June 2, 2023, RCEP officially entered into force for the Philippines. So far, the agreement has fully entered into force for the 15 signatories. The total population, total GDP value, and goods trade volume of the RCEP region all account for about 30% of the world's total. The agreement's full effectiveness for 15 parties marks that the free trade area with the largest population, largest economic and trade scale, and the most development potential in the world has entered a new stage of full implementation. .

According to customs statistics, in the first five months of this year, my country's imports and exports to other RCEP member states were 5.11 trillion yuan, a year-on-year increase of 4.5%. Trade with other RCEP member states accounted for more than 30% of my country's foreign trade.

As the world's largest free trade agreement, the RCEP tariff reduction policy continues to release dividends, further enhancing the competitiveness of enterprises' export products and strengthening the resilience of regional industrial chains and supply chains. To enjoy tariff reductions under the free trade agreement, companies must rely on preferential certificates of origin.

So what is a "certificate of origin"? In layman's terms, a certificate of origin is equivalent to a "coupon", and the holder can enjoy preferential trade treatment between member states, including reduced or exempted tariffs. These certificates are usually issued by the customs or the Council for the Promotion of International Trade of the exporting country and have a unique number. They are an important certificate for exported goods to enjoy the tariff preferences of free trade agreements abroad.

Dividends continue to be released, and economic and trade exchanges among member states are becoming more and more active.

Jiangsu is a major foreign trade province, and RCEP has brought benefits to the majority of foreign trade companies.

This company in Changshu Economic and Technological Development Zone, Jiangsu Province mainly produces various types of coated and special glass. Its products are sold in more than ten countries in Asia and Europe, with an annual export volume of more than 60 million yuan. Recently, Changshu Customs, a subsidiary of Nanjing Customs, issued RCEP certificates of origin for a batch of glass products worth 740,000 yuan from the company, and the goods were successfully exported to Japan.

Li Zhijin, head of Jiangsu Glass Enterprise: With the RCEP certificate of origin issued by the customs, after this batch of goods arrives abroad, its import tariff will be directly reduced from 6.3% to 0. From January to May this year, we applied for a total of 21 RCEP certificates of origin, and it is estimated that we can enjoy tariff preferences of more than 600,000 yuan in the destination country.

As RCEP continues to release policy dividends, economic and trade exchanges among member states have become more and more active, and many companies have also benefited from the tariff preferential, simplified customs clearance, trade and investment facilitation and other dividends brought by RCEP's full effect.

Hu Wenjie, Director of the Tariff Department of Nanjing Customs: In the next step, Nanjing Customs will continue to promote reform measures such as intelligent review of certificates of origin and paperless declaration to help enterprises actively integrate into the RCEP market and effectively enhance international competitiveness.

One year since RCEP came into full effect for 15 signatory countries, Nanjing Customs has issued a total of 113,600 RCEP certificates of origin, with a visa export value of 33.565 billion yuan. The value of visa exports ranks first among national customs. It is expected that relevant enterprises can enjoy tariffs from other RCEP member countries. Discount of 503 million yuan. Enterprises in Jiangsu Province enjoyed preferential imports of RCEP goods worth 20.494 billion yuan and enjoyed tariff discounts of 455 million yuan.

Import preferences continue to promote two-way flow of regional industrial chains

The RCEP certificate of origin brings tax reduction and cost reduction benefits to enterprises in export. For importing companies, they can also use preferential certificates of origin to enjoy low tariff preferences, thereby promoting companies to improve product competitiveness.

Walking into the production workshop of this company in the Suzhou area of Jiangsu Pilot Free Trade Zone, the production line is assembling motors and other parts into motors for medical equipment. Recently, under the guidance of Suzhou Industrial Park Customs, this company imported 329 motor products from Japan and enjoyed a tariff discount of approximately 18,000 yuan with the RCEP certificate of origin.

Pu Lianyu, head of customs affairs at Suzhou Electric Co., Ltd.: The tariff rate on our imported electronic products has gradually dropped from 12% to 6%. From January to May this year, the value of the preferential goods imported by our company exceeded 31 million yuan, and we received a tariff discount of 1.9 million yuan.

Ma Xian, deputy section chief of the Tariff Section of the Suzhou Industrial Park Customs Office in Weiting: In order to help enterprises improve the level of RCEP benefits, specialists have been designated to provide "one-on-one" service solutions and actively promote multiple application platforms to help enterprises conduct intelligent optimization of optimal tariff rates. plan.

According to statistics, in the first four months of this year, enterprises in Jiangsu Province enjoyed preferential imports of RCEP goods worth 6.885 billion yuan and 160 million yuan in tariff concessions, a year-on-year increase of 24.42% and 36.95% respectively.

The Shanghai Customs District accepted RCEP preferential import goods with a value of 40.66 billion yuan

In Shanghai, one year after RCEP came into full effect, the Shanghai Customs District has accepted a total of 48,000 RCEP preferential import declarations, with a goods value of 40.66 billion yuan, and tax concessions of 1.07 billion yuan, ranking first in the country, with a year-on-year increase of 52.4%. , 45.5% and 70.2%. Imported goods enjoying preferential treatment mainly include plastics and their products, machinery and equipment and parts, electrical equipment and their parts, etc.

The approved exporter system is one of the highlights of RCEP. Enterprises that apply for and obtain this qualification can independently issue a declaration of origin, which has the same validity as a traditional certificate of origin and does not require a visa, making it easier for enterprises to arrange logistics more flexibly and further improving customs clearance efficiency. Enterprises can more conveniently enjoy tariff preferences under the agreement and improve customs clearance convenience.

This agricultural equipment company in Changzhou, Jiangsu Province, uses a new processing line to achieve a coherent and unified engine production process through 25 processes, and can assemble a wheeled tractor in 6 minutes.

Huang Huangfeng, head of Jiangsu Agricultural Equipment Enterprise: In the first five months of this year, the company applied for a free trade agreement preferential certificate of origin visa from Changzhou Customs for an amount of 9.07 million yuan, a year-on-year increase of 73%.

After obtaining the approved exporter qualification, the company recently issued an RCEP declaration of origin for a batch of diesel engines exported to Vietnam. This is also the first certificate of origin issued by the company.

Yu Guofeng, Deputy Commissioner of Changzhou Customs under Nanjing Customs: Currently, there are a total of 9 companies in Changzhou with approved exporter qualifications. We have also set up "trainers" with RCEP approved exporter qualifications at the origin visa points to actively analyze and identify enterprises that can benefit, provide "one-to-one" targeted assistance, and actively promote the expansion of approved exporters. Surface efficiency.

Since the beginning of this year, Nanjing Customs has based on the needs of foreign trade economic development, implemented precise policies to further promote the implementation of the approved exporter system, and continued to guide enterprises to seize the development opportunities of RCEP and enjoy the policy dividends. From January to May this year, we have guided 48 companies in Jiangsu to successfully become approved exporters, and the number of companies independently issuing declarations of origin increased by 2.89 times.

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