CHONGQING (CQNEWS) -- The Regional Comprehensive Economic Partnership (RCEP) agreement took effect for the Philippines on June 2, 2023, marking the world's largest free trade agreement entering into effect for all 15 members and beginning a new stage.

Lianglu Cuntan Customs issued the RCEP certificate of origin for a batch of generators worth 250,000 yuan exported to the Philippines by Chongqing Senci Import & Export Trading Co., Ltd. With this certificate, the batch of goods can enjoy zero tariffs in the Philippines.

Since the Philippines has implemented the RCEP, the tariffs on its products imported from China, such as automobiles and parts, some plastic products, textiles and garments, air conditioners, and washing machines, have gradually decreased from 3-30% to 0.

With the full implementation of the RCEP, around 90% of goods traded in member states will eventually enjoy zero tariffs, which will help enterprises optimize their industrial layout in Japan, South Korea, ASEAN, and other countries, and further enhance the competitiveness of enterprises in the international market, according to the Tariff Department of Chongqing Customs. In the future, Chongqing Customs will implement measures to enhance the stable scale and optimal structure of foreign trade, align with the high-level international free trade rules, and do a good job in guiding the full implementation of RCEP to help enterprises grasp the opportunities and benefit from the policy, and contribute to the development of opening hubs in Chongqing. (Translated by Yuki, Fathom Language Limited)