Hohhot (MidLand) – Since the implementation of the Regional Comprehensive Economic Partnership (RCEP) on January 1, 2022, more and more Chinese companies have benefited from the continuously strengthened trade and industrial cooperation between China and RCEP member countries.
At the sea buckthorn (Hippophae) juice production plant in Yuhangren, a high-tech company dedicated to full use of the plant, workers are busy packing bottles for shipment abroad.
“After the implementation of the RCEP agreement, the average tariff value of sea buckthorn juice in importing countries decreased by 3% and continues to decrease year after year,” said foreign trade staff of the Hohhot-based company in the Inner Mongolia Autonomous Region. China Tang Hongguang.
“Thanks to the preferential tariff policy, our sea buckthorn products have become very competitive. Currently, most of the products are exported to RCEP member countries,” Tang said.
According to Saihan Customs, in the past two years, it has issued 746 certificates of origin (SKA) under the RCEP agreement to foreign trade companies in Hohhot, with exported goods worth 433 million yuan (1 yuan = Rp 2,173) or approximately 61 million US dollars (1 US dollar = Rp. 15,630).
It is estimated that these goods can enjoy tariff concessions of over 80 million yuan in the destination countries.
“One piece of SKA RCEP has the value of gold in international trade,” said Yang Yang, member of the foreign trade department of Inner Mongolia Northpeace Textile Co., Ltd.
Yang said RCEP has reduced tariffs for exported cashmere fabrics, which has saved us costs by about 1 million yuan over the past two years.
In June 2023, the RCEP agreement entered into force for all 15 member countries, injecting further vitality into regional economic integration.
As the RCEP agreement continues to deliver benefits, more and more Chinese companies are building on the momentum and embracing new business opportunities.
Pearl River International Development Co., Ltd., headquartered in Guangzhou City, South China, has been operating and developing in Southeast Asia for many years.
In recent years, the company has implemented several investment and construction projects in areas such as digital economy, new energy, petrochemical sector, water environment protection and metallurgical industry, which helps to deepen economic cooperation and industrial between China and RCEP member countries.
Attracted by the preferential policies offered by RCEP, such as tax incentives, the company has built a unique supply chain platform to support exports of bulk goods and auxiliary materials, with a cumulative export value of 170 million yuan to date .
“The RCEP agreement has brought real benefits to Chinese companies,” said Lu Ju, the company’s president.
According to him, we hope that with the full implementation of RCEP, this mechanism will bring us more opportunities in the future, and the exchange and cooperation between China and RCEP member countries will make new progress.
Journalist: Xinhua
Editor: Imam Budilaksono
Copyright © MidLand 2024
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