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Exporters already see RCEP wins with trade



Exporters already see RCEP wins with trade

A number of Chinese exporters said they have significantly benefited from the Regional Comprehensive Economic Partnership, as the agreement has helped lower tariffs and raise competence.

The RCEP agreement, which took effect on Jan 1, covers roughly 30 percent of the world's population. It is expected to provide a strong boost to international trade and investment and contribute to global economic recovery.

Xiamen International Trade Paper Products Co Ltd, a paper manufacturer involved in importing paper pulp and exporting paper products such as disposable cups and tableware, is among the first batch of companies that received certificates of origin from the China Council for the Promotion of International Trade, China's foreign trade and investment promotion agency.

The CCPIT said it has more than 300 local branches nationwide providing complimentary services to issue certificates of origin to enterprises. On Saturday, it issued 158 certificates of origin to 69 Chinese enterprises nationwide.

"With the certificates, enterprises can enjoy preferential tariffs when they export goods to RCEP member economies. This can help further stabilize the supply chain and promote trade within the region. It will help fight against trade protectionism," said Yan Yun, director of the CCPIT's certification department.

"Enterprises can fill in forms, get their certificates online and print by themselves. We have staff members who work during holidays and weekends, and the whole process can be done electronically," Yan said.

Wang Wenxian, general manager of the import and export business department of the paper manufacturer in Xiamen, said the company imports raw materials of paper pulp from Southeast Asian countries, South Korea and Japan, and the value of products it imports is about $100 million annually.

"We mainly produce paper and paper products, and we export a large volume of paper tableware to overseas markets. Our exporting value is more than $50 million a year. Australia stands as an important market for us, and it accounts for about half of our export volume. We provide paper products to many McDonald's restaurants and 7-Eleven convenience stores in Australia," Wang said.

Shandong Yijia Biotechnology Development Co Ltd is another company that received a certificate of origin on Saturday. The company mainly exports dried garlic and ginger slices to Japan. In addition, it exports similar products to Thailand, Malaysia and South Africa. Its annual export value to Japan is around $5 million.

"After the RCEP agreement took effect, it can help us significantly lower tariffs. For instance, tariffs on exporting our agricultural products to Japan have been lowered to 8.4 percent from 9 percent before the agreement took effect, and they will be further lowered to 7.9 percent starting in April," said Song Aiyu, sales manager of Shandong Yijia.

Meanwhile, Sartomer (Guangzhou) Chemicals Ltd, a company that provides resins for 3D printing and advanced electronics applications, mainly exports chemical products to Japan, South Korea and Southeast Asia. It is another company that received its certificate of origin on Saturday.

"The RCEP agreement will have a remarkable positive impact on the regional economy. For our manufacturing base in Guangzhou, Guangdong province, we hope to double capacity by the second half of 2023 to meet growing demand," said Liu Bin, chief executive officer of Sartomer (Guangzhou) Chemicals Ltd.