RCEP dividend spurs Fujian's foreign trade
Shishi Zhengyuan Aquatic Product Science and Technology Development Co in Fujian province received the RCEP (Regional Comprehensive Economic Partnership Agreement) certificate of origin on Feb 1, which was issued by Quanzhou Customs for exporting a batch of frozen surimi worth $264,000 to South Korea.
In addition, on Feb 4, the first RCEP route ship, the Panamanian ship "Sunny Laurel", set sail from Shantou in Guangdong province and berthed in Fuzhou, Fujian province, transporting Chinese handicrafts, ceramics, home accessories, and shoes. It is the first ship to dock in Fuzhou after the RCEP agreement went into effect in the Year of the Tiger.
Since the RCEP agreement took effect in South Korea on Feb 1, the number of items that have been lowered to zero tariffs by China and South Korea has increased to 38.6 percent, with the number of goods that will be reduced to zero tariffs increasing to 86 percent.
South Korea is the 11th country to formally join RCEP after the trade pact took effect on Jan 1 after China, Japan, Australia, New Zealand and six ASEAN member countries – Singapore, Brunei, Cambodia, Laos, Thailand and Vietnam.
Fujian province is bolstering its efforts to boost foreign trade in the first quarter of the year by guiding companies to make full use of the RCEP agreement and develop international markets, said Zhong Muda, deputy director of the provincial department of commerce.