The Regional Comprehensive Economic Partnership (RCEP) agreement, the worlds largest free trade agreement, entered into force on the first day of 2022. The RCEP is expected to bring tangible benefits to its member countries, whether in global trade or economic recovery. Trade partnership in Foshan, China, with no doubt, will be benefited. 

The first RCEP Certificate of Origin issued from Foshan  

The first RCEP Certificate of Origin from Foshan was issued at 00:00:43 on January 1, 2022 to a company in Shunde, Shuntex Holding Co,. Ltd. As estimated, bottles with a value of 370,000 yuan were issued on the spot. With the certificate, the goods could enjoy the tax rate of 3.5% in importing country, 3.9% off from the previous, which means that the exporter was able to save roughly 1480 yuan. 

Officals assisting a local enterprise with RCEP Certificate of Origin application (Photo by Foshan Daily) 

Lishui orchid producers seize the opportunity 

As the largest production center of phalaenopsis orchid in China, Lishui Town exports about 30% of the flowers to member countries of RCEP each year. The local enterprises are determined to volume up their exports with the landing of RCEP. 

In fact, to boost export, the local government has already adopted measure last year by setting up the first cross-border e-commerce pilot zone for agricultural products in Guangdong. Besides, loan support and logistics services are also provided to help phalaenopsis orchid farmers in Lishui to play more competitive roles on global market, especially after the agreement takes effect. 

Author | Ivy 

Revisor | Jersey 

Photo | Pearl River Times