In the wake of the continuing rollout of the landmark Regional Comprehensive Economic Partnership, or RCEP trade agreement – which took effect on Jan 1 – businesses of all kinds are experiencing a huge lift in their fortunes in Lishui city in East China's Zhejiang province.

That's because the agreement, signed by China and a raft of Asia-Pacific nations, is paving the way for significant decreases in the tariffs levied on imports and exports of major nations – in many cases reducing them to zero.

In the first half of this year, Lishui's customs office issued 153 RCEP certificates of origin – a form of trading passport for products – to 22 local enterprises and their export goods worth 44 million yuan ($6.52 million) enjoyed tariff reductions of about 450,000 yuan from the importing countries.

One of the beneficiaries was Lishui's Jingning Daziran Food Co Ltd, one of the influential food manufacturers in Zhejiang province. Most of its products are exported to European countries and Japan.

"As soon as RCEP came into effect, we applied for a RCEP certificate of origin from Lishui Customs," said company salesperson Zheng Xiangxiang.

"From January to June this year, the value of our edible mushrooms exported to Japan was about 13 million yuan and we enjoyed a tariff reduction of about 130,000 yuan from the importing country," Zheng added.

To better help local firms enjoy the agreement's dividends, Lishui Customs has cooperated with the city's commerce bureau to organize a raft of policy interpretation activities.

RCEP was signed by 15 Asia-Pacific countries, including 10 ASEAN members, China, Japan, the Republic of Korea, Australia and New Zealand.

The accord covers a wide range of areas, including tariff reductions, trade facilitation and the opening up of services and investment.

Over 90 percent of trade in goods among approved member states will be tariff-free and all member states will significantly reduce restrictions on their economic and trade cooperation, facilitate the flow of goods and the factors of production and improve production efficiency.