Copyright 2024 - Ningbo Life / Ningbo Expat

Ningbo enterprises can enjoy tariff preferential treatment

Ningbo enterprises can enjoy tariff preferential treatment from the importing country since Philippines joins RCEP family

On June 3rd, a declaration of origin for the Regional Comprehensive Economic Partnership Agreement (RCEP) independently issued by the enterprise was printed out in the International Trade Department office of Ningbo Asia Pulp and Paper Industry Co., Ltd. It is reported that this declaration is the first declaration of origin issued by Ningbo after RCEP officially came into effect for the Philippines on June 2, 2023. With this declaration of origin, the company's exports of white cardboard worth approximately ¥280000 to the Philippines can directly enjoy zero tariff preferential treatment from the importing country.

“The moment of effective implementation of RCEP for the Philippines that we are waiting for finally comes, "sighed Wei Li, the manager of the International Trade Department of Asia Pulp and Paper Industry. Some of the raw materials for the company's products come from Thailand and Indonesia, and are processed in China before being exported to the Philippines. By applying the rules of regional accumulation of origin, they can enjoy tariff reductions from the Philippines under RCEP. “According to last year's foreign trade situation, we are

expected to benefit 1.2 million yuan per year.”

Moreover, as an approved exporter, Asia Pulp&Paper can also issue a declaration of origin under RCEP by itself, without applying to the visa authority for issuing a certificate of origin in the traditional way. This not only effectively enhances the convenience of the implementation of free trade agreements, improves the efficiency of international trade logistics and the efficiency of goods clearance, but also reduces the operating costs of enterprises and further enhances international competitiveness.

With the entry into force of RCEP for the Philippines and the full entry into force of RCEP for 15 member states, it marks a new stage of comprehensive implementation for the world's largest free trade zone.

“We will provide preferential schemes under different free trade agreements for import and export enterprises, helping them maximize the benefits of RCEP and other free trade agreement policies, better integrate into regional industrial chains, and promote high-quality development of foreign trade.” said Yang Jie, the head of the Place of Origin Division at the Customs Office of Ningbo Customs.

According to statistics, since the formal entry into force of RCEP in January 2022 to the end of May this year, Ningbo Customs issued 36164 RCEP certificate of origin for enterprises under its jurisdiction, 2287 RCEP declaration of origin issued by enterprises themselves, and the value of preferential goods exceeded 1.5 billion dollars. The main visa products include plastic products, textiles and clothing, aquatic products, etc.

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