Shaanxi's first RCEP certificate of origin for products exported to the Philippines was issued

Recently, the Regional Comprehensive Economic Partnership (RCEP) entered into force for the Philippines. Guanzhong Customs under Xi'an Customs guided Xi'an Electric Engineering Co., Ltd. to successfully apply for Shaanxi's first RCEP certificate of origin for products exported to the Philippines. 

According to an administrative leader of the company, on the day RCEP came into effect for the Philippines, the RCEP certificate of origin was processed for the company's products worth more than 7.4 million yuan exported to the Philippines. With this certificate, this batch of products will enjoy zero tariffs in the Philippines, and it is expected to receive more than 700,000 yuan in tariff relief from the Philippines.

The Regional Comprehensive Economic Partnership (RCEP) came into force on January 1, 2022. The agreement covers 15 countries with a population of more than 2.2 billion, accounting for 30% of the global economy. After the implementation of RCEP, more than 90% of the overall import and export goods trade within the region will eventually achieve zero tariffs. On June 2, 2023, RCEP entered into force for the Philippines, the last country to ratify the world's largest FTA deal. Now the RCEP agreement is in effect for all 15 members.

According to statistics, in the first five months of this year, Xi'an Customs issued 477 RCEP certificates of origin, amounting to 410 million yuan, an increase of 99% and 237% respectively year-on-year, which can bring more than 20 million yuan of foreign tariff reduction and to export-oriented enterprises.