On February 1, Zhonghao International Trade Co., Ltd. applied for a RCEP (regional comprehensive economic partnership agreement) certificate of origin for export to South Korea from Beijing Centergate Technologies (Holding) Co.Ltd(000931) customs under Beijing customs. It is understood that this batch of goods is phosphorus trichloride exported to South Korea, with a value of US $111384. With this certificate, this batch of goods will enjoy the preferential treatment of reducing the import tariff rate from 5% to zero in the South Korean market.
This is the first RCEP certificate of origin issued by Beijing after RCEP came into force for South Korea. South Korea is China’s fifth largest trading partner. Under RCEP, both China and South Korea have made high-level opening commitments. South Korea will finally reduce the tariff on 86% of Chinese products to zero, of which 50.4% of the product tariff will be reduced to zero immediately after the agreement comes into force, such as some textile raw materials and products, some chemical raw materials, organic chemicals, drugs, steel and some aircraft.
According to the Customs Department of Beijing customs, RCEP is the free trade agreement with the largest population and the largest economic and trade scale in the world. Under RCEP, enterprises can make full use of the rules of origin accumulation to accumulate origin materials within the scope of RCEP contracting parties, so as to obtain origin qualification. Compared with other free trade agreements signed with South Korea in the past, this has reduced the “threshold” for export products to obtain origin qualification.
In order to make sure that RCEP is effective for landing in Korea, Beijing customs has conducted an investigation on the trade situation between Beijing and South Korea in advance, and has carried out the interpretation of RCEP policy through various media such as the Internet. It has carried out policies on Tariff Concession commitments and rules of origin for related enterprises, helping enterprises to make good use of their products, use their living resources and make full use of RCEP policy dividends.
Jiang Yingtai, director of Beijing Hyundai procurement Co., Ltd., said that through the policy publicity of Beijing customs, the company understood and mastered RCEP preferential rules of origin and preferential policies in advance, and had full confidence in carrying out business layout in 2022 and even during the 14th Five Year Plan period and fully enjoying the policy dividends after implementation.
Jiang Yingtai mentioned that this year marks the 30th anniversary of the establishment of diplomatic relations between China and South Korea. The formal entry into force of RCEP will greatly promote the trade scale between China and South Korea and deepen the economic and trade ties between China and South Korea. Beijing Hyundai will make full use of this policy dividend to further explore overseas markets, meet the needs of automobile consumers in China and other RCEP member countries with better and more advanced products and services, promote the high-quality development of enterprises and make new and greater contributions to economic development.
It is reported that in 2021, Beijing Customs issued 7164 certificates of origin for preferential trade to South Korea, with a visa amount of US $178 million, an increase of 18.6% and 17.6% respectively year-on-year. Beijing Customs said it would continue to improve its service level, take more high-quality and convenient measures to help enterprises enjoy benefits, help improve Beijing’s opening-up level and promote the high-quality economic and social development of the capital.
