AS many as 84 firms in the area administered by Shenzhen Customs have obtained the qualification of “approved exporters” since the system under the Regional Comprehensive Economic Partnership (RCEP) agreement has been introduced to facilitate foreign trade among member countries.

Signed Nov. 15, 2020, the 15-member — 10 member states of the Association of Southeast Asian Nations (ASEAN), China, Japan, South Korea, Australia and New Zealand — RCEP is the world’s largest free trade agreement, covering about 30% of the world’s population and accounting for 30% of global trade.

The agreement entered into force Jan. 1, 2022 for China and nine other countries, with the Philippines the last country to ratify the deal.

An “approved exporter” is a Chinese exporter approved by Chinese customs to be eligible to issue a declaration of origin, which can be accepted as a proof of origin under relevant free trade agreements China has signed.

After obtaining approval, firms do not need to apply at customs for the certificate of origin on a ticket-by-vote basis when exporting goods, and can independently issue a declaration of origin that is equivalent to the certificate of origin at any time, thus greatly improving customs clearance efficiency.

Currently, the RCEP agreement and China’s preferential trade agreements with Switzerland, Iceland, Mauritius, and New Zealand all stipulate the approved exporter system.

Certificates of origin are documents widely used in international trade transactions. They state that the products listed have met sufficient criteria to be considered as originating in a particular country. The issuance of these certificates is widely regarded as a barometer of foreign trade.

“Approved exporters can issue certificates of origin themselves, without the need for our company to apply to the certification organization, which is more flexible in form and can save us time and costs,” said Lin Xianqin, customs affairs manager of a Japanese-funded firm which exports its products to Japan.

“The approved exporter system has helped our company further expand its influence in the Japanese market.”

In a bid to help firms gain a better understanding of the application for the approved exporter status and how to issue a certificate of origin, Shenzhen Customs has selected a list of companies in need of such services to provide them with customized training and offer one-on-one guidance.

Two years on, the RCEP has unleashed tremendous benefits for regional integration in the Asia-Pacific region and powered up economic recovery.

China’s General Administration of Customs said Friday that trade between China and the 14 other RCEP member countries reached 12.6 trillion yuan (US$1.77 trillion) in 2023, an increase of 5.3% compared with the period before the agreement came to effect in 2021.

China’s exports to RCEP member countries amounted to 6.41 trillion yuan, an increase of 1.1 percentage points to 27% in terms of the export share compared with that of 2021. Lithium batteries, auto parts and flat panel display modules all maintained substantial export growth.

Meanwhile, China’s imports from RCEP member countries reached 6.19 trillion yuan, accounting for 34.4% of the country’s total imports.

The positive trade growth showcased once again the tangible benefits that the RCEP trade agreement has brought for member countries, despite the global inflation and economic downturn that lingered last year. (Yang Yunfei)