On June 2, the "Regional Comprehensive Economic Partnership Agreement" (RCEP) officially entered into force for the Philippines, marking the full entry into force of RCEP for the 15 signatory countries, which will inject strong impetus into regional economic integration.
Just after midnight on the 2nd, the RCEP Shandong Enterprise Service Center and Qingdao Customs officers issued the RCEP certificate of origin for a batch of container flexitanks exported to the Philippines. This is the first certificate of origin issued by Shandong Province for exporting to the Philippines under RCEP .
"With this certificate of origin, the 3% tariff rate for products exported to the Philippines in the past has been reduced to zero." Ma Wenbo, chairman of Qingdao Langfu Technology Co., Ltd., said that benefiting from the RCEP tariff reduction, the company's trade costs have been reduced, and it is expected to export orders to the Philippines this year. An increase of about 10% year-on-year.
After RCEP officially came into effect for the Philippines, in the field of trade in goods, the Philippines added zero-tariff treatment to my country's automobiles and parts, some plastic products, textiles and clothing, air-conditioning washing machines, etc. on the basis of the China-ASEAN Free Trade Area. After a certain transition In the near future, the tariffs on the above products will be gradually reduced from 3% to 30% to zero. In the field of services and investment, the Philippines has promised to open the market to more than 100 service sectors, significantly opening up shipping and air transportation services, and also giving foreign companies more certainty in the fields of commerce, telecommunications, distribution, finance, agriculture and manufacturing. .
The person in charge of the International Department of the Ministry of Commerce stated that the 15 members have made commitments on the opening of goods, services and investment markets, and superimposed high-level rules in various fields, which will greatly promote the production factors such as raw materials, products, technologies, talents, capital, information and data in the region. The free flow of resources will promote the gradual formation of a more prosperous regional integrated market, and promote the opening and cooperation of member states on a larger scale, at a higher level, and at a deeper level.
On November 15, 2020, the 10 ASEAN countries, Australia, China, Japan, South Korea, and New Zealand jointly signed RCEP, and promoted the agreement to come into effect on January 1, 2022. The total population, total GDP, and trade in goods of the RCEP region account for about 30% of the world's total. RCEP has come into full effect for the 15 signatory countries, marking the entry into a new stage of full implementation of the free trade area with the largest population, largest economic and trade scale and the greatest development potential in the world.
Since RCEP came into effect, my country has actively aligned with RCEP rules and continuously released policy dividends.
In order to promote preferential policies directly to fast enjoyment, Hangzhou Customs and Zhejiang Provincial Department of Commerce jointly developed the "RCEP Smart Preferential Service Platform". Enterprises only need to enter the product tax number and export destination, and it will automatically prompt tax reduction under different free trade agreements. Rules to help companies choose the most suitable free trade agreement.
Through an in-depth analysis of the visa data of previous years, Hangzhou Customs noticed that Zhejiang Cascia International Co., Ltd.’s export business to Japan has stagnated, and took the initiative to connect with the company to interpret relevant policies and guide the application for RCEP certificates of origin. In 2022, the company will apply for 536 RCEP certificates of origin, involving a value of 73.653 million U.S. dollars, tax reduction and exemption of 737,000 U.S. dollars, and an increase of 20% in export business.
Actively build an online RCEP intelligent application public service platform, vigorously promote the digital service of the certificate of origin in the whole process; develop and increase foreign trade liners, air routes, railway freight trains and stations for RCEP members, and continuously improve logistics and supply chain comprehensive services level; superimpose open platforms such as pilot free trade zones with RCEP policies, and increase targeted investment promotion efforts in key industries...Since RCEP came into effect, all localities have actively strengthened policy docking to help companies seize opportunities in the agreement.
"RCEP has brought real dividends and benefits to the vast number of enterprises in our country." The person in charge of the International Department of the Ministry of Commerce introduced that RCEP is superimposed on the bilateral free trade agreements that have taken effect between my country and other RCEP members, creating good conditions for enterprises to enjoy better benefits , to help enterprises reduce trade costs.
In 2022, under RCEP, Chinese enterprises can enjoy export value of 235.3 billion yuan, and enjoy tariff reduction of 1.58 billion yuan from the importing country; enjoy import value of 65.3 billion yuan, and tax reduction of 1.55 billion yuan. In the first quarter of 2023, Chinese enterprises enjoy export value of 62.29 billion yuan under RCEP, 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.
Trade in goods among RCEP members has become closer, and the use of foreign capital by most members has shown a positive upward trend.