Since January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) has officially entered into force in 10 countries, including Brunei, Cambodia, China, Japan and New Zealand. It is reported from the data provided by Zibo Customs, in January this year, Zibo Customs issued a total of 227 RCEP certificates of origin for 77 export enterprises within the jurisdiction, representing the cargo value of USD 9.45 million, equivalent to RMB 60.11 million, and such enterprises can benefit from more than USD 300,000 of tariff reduction and exemption for imported and exported goods

“In January, 220 certificates were issued to Japan, six to Australia and one to Thailand. Zibo certified export products are mainly chemical, textile, plastic, glass and other products; chemical products accounted for about 44%, textiles accounted for 26%, and plastic products accounted for 22%,” the person in charge of Zibo Customs said; since the first month of the entry into force of RCEP, enterprises of member states have conducted business under the framework of RCEP. The world's largest free trade treaty brings new market potential as well as fiercer competition. As China and other members of the RCEP, except for Japan, have signed free trade treaties, making good use of Japan's RCEP certificate of origin is the key to seize the opportunity of RCEP in the first year of the implementation of RCEP.

Insiders commented that the tariff concession clause in the RCEP treaty is beneficial to Zibo's traditional export industries, especially for opening up the Japanese market. The tariff on straw products and some chemicals exported to Japan was reduced to zero immediately after the treaty came into force. The tax reduction for textiles, plastic products and chemical products in the first year was 0.7-0.5%, 0.4% and 0.3% respectively. Most of those that are not immediately entitled to zero-tariff will be gradually reduced to zero-tariff within 10 years. Zibo Customs suggested that enterprises to gain knowledge of the tariff preference commitments of RCEP countries as soon as possible, make full use of the cumulative rules of origin therein, deeply engage in the construction of regional industrial chain and supply chain, and develop the business opportunities brought by the open market of RCEP member countries, according to their advantages and characteristics.