Chongqing- One of the largest free trade agreements in the world, the Regional Comprehensive Economic Partnership (RCEP), came into effect in Indonesia on January 2, 2023. So far, the number of effective members among the 15 RCEP signatories has reached 14. 

On the same day, the Lianglu Cuntan Customs, under the Chongqing Customs District, issued the RCEP certificate of origin for a batch of impact rammers exported to Indonesia by Chongqing Kibao Power Co., Ltd, with the visa amount exceeding 450,000 yuan. 

This is the first RCEP certificate of origin to Indonesia issued by Chongqing after the RCEP took effect in Indonesia. With this certificate, the products can enjoy zero tariff preference in Indonesia, and the preferential amount can reach up to 5% of the goods' value.

"The goods' value we export to Indonesia each year exceeds 60 million yuan," said Zou Rui, the foreign trade manager of the company. "After the RCEP takes effect in Indonesia, we can select the optimal benefits plan in the RCEP agreement to improve our product competitiveness and increase export opportunities."

According to the tariff concessions in the RCEP agreement, China's immediate zero-tariff ratio to Indonesia is 67.9%, the final zero-tariff ratio is 90.5%, while the immediate tariff-free ratio of Indonesia to China is 74.9%, and the final zero-tariff ratio is 90.5%. 

Chongqing issued 979 RCEP certificates of origin last year

January 1, 2023, marks the first anniversary of the entry into force of the RCEP. Over the past year, the RCEP has effectively boosted confidence in regional economic recovery, improved trade facilitation, enhanced regional industrial cooperation, and further optimized the supply chain and the industrial chain. 

Data shows 979 RCEP certificates of origin with an amount of 479 million yuan were issued in 2022 in the Chongqing customs region. In the first 11 months of 2022, Chongqing's imports and exports to other RCEP member countries reached 233.62 billion yuan, up 9.9% yearly.

In the future, Chongqing Customs District will promote customs clearance facilitation measures and seize development opportunities of free trade agreements such as RCEP. 

Also, Chongqing customs will further study and interpret the rules of origin, tariff concessions, and other contents. Enterprises will be guided to reasonably use policies to seek trade opportunities to boost Chongqing's competitive industries.

(Tan Jingyue, as an intern, also contributed to this report.)