Nansha taps into RCEP advantages

Sartomer (Guangzhou) Chemicals in Nansha receives Guangdong province's first RCEP preferential certificate of origin.

Idemitsu Compounding (Guangzhou) in Nansha Free Trade Zone was certified as an approved exporter, becoming the first enterprise certified as an approved exporter by Guangzhou Customs on Jan 1, which was also the day that the large regional free trade agreement Regional Comprehensive Economic Partnership came into effect.

"Obtaining the qualification of approved exporter will help our company seize the opportunities that come from the RCEP and gain more first-mover advantage in foreign trade exports," said Matsukawa Koji, the general manager of Idemitsu Compounding (Guangzhou).

According to the import volume of Guangzhou Jfe Steel Sheet Company in 2020, the enterprise can enjoy about 8 million yuan ($1 million) in tariff reductions this year, said a Nansha Customs officer.

In 2021, the export commodities of Nansha were mainly mechanical and electrical products. The RCEP's implementation has greatly increased the export of ships, auto parts, and containers in Nansha.

Three foreign trade enterprises in Nansha were also granted certificates of origin on Jan 1.

More than 70 percent of the 21 new foreign trade container liner routes of Guangzhou Port Group will be connected to RCEP member countries in 2021, creating a strong foundation for Nansha to make full use of the advantages that result from the RCEP.