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Shandong Issues First RCEP Certificate of Origin for Export to Indonesia

Source：The seanews 01-06-2023 09:20:27

On the early morning of January 2, 2023, Shandong issued a Regional Comprehensive Economic Partnership (RCEP) certificate of origin to Qingdao SanMu Aquatic Products Co., Ltd. for export to Indonesia at the RCEP Shandong Enterprise Service Center. This is the first RCEP certificate of origin issued by Shandong for export to Indonesia. Goods exported to Indonesia needed to pay a 10% tariff, and the company can be exempted from tariffs in Indonesia by over RMB 2 million every year after the RCEP came into force for Indonesia, according to Sun Junzhi, general manager of the company.

Indonesia is Shandong's largest export destination in ASEAN entitled to preferential policies. After the RCEP comes into force for Indonesia, the certificate of origin will cut the tariff rate of some aquatic products, non-slip floor mats and other products exported from Shandong to Indonesia, thus lowering the tariff cost and benefit threshold of cross-border trade among member countries. Meantime, it will contribute to the efficient flow of production factors in the region as well as closer and more frequent cooperation between industrial and supply chains in the region.

To help enterprises make full use of the RCEP preferential policies, the RCEP Shandong Enterprise Service Center plans to set up an office in Indonesia to provide "one-stop" services such as RCEP investment policy consultation, trade matchmaking, commercial affairs and laws, warehousing and logistics for Chinese and Indonesian enterprises, and help the enterprises in both countries timely acquire policy trends and industry information and conduct business consultations, thus further improving the level of trade and investment liberalization and facilitation.