Yiwu issues Zhejiang's first RCEP certificate of origin for exports to Myanmar
Yiwu Customs issues a certificate of origin under RCEP to Myanmar on May 1. [Photo/zjol.com.cn]
Yiwu Customs issued a certificate of origin under the Regional Comprehensive Economic Partnership agreement for a batch of ceramic tableware that will be exported to Myanmar.
It was the first RCEP certificate of origin to be issued in Zhejiang province for exports to Myanmar since the world's largest free trade deal took effect in the Southeast Asian country on May 1.
The batch of ceramic tableware worth 40,800 yuan ($6,070.94) can enjoy a tariff reduction of about 3 percent, reducing tariffs by around 1,200 yuan in the importing country.
The certificate of origin was applied for by Yiwu Lihang Import and Export Co. Jin Liming, director of the company, said the company applied to Yiwu Customs for 92 preferential certificates of origin for various exports to Myanmar valued at about 7.5 million yuan in the first four months of this year.
Myanmar is one of the most important exporters of Yiwu-made small commodities. In the first quarter of this year, foreign trade between East China's Zhejiang province and Myanmar increased by 107.6 percent year-on-year to 3.05 billion yuan. Exports to Myanmar reached 2.89 billion yuan, an increase of 112.1 percent yearly, while imports from Myanmar rose by 49.6 percent year-on-year to 160 million yuan.