Binzhou customs issues first certificate of origin under China-Cambodia FTA

Binzhou customs issued the first certificate of origin under the China-Cambodia Free Trade Agreement for Binzhou Yidefu Food Co Ltd in the area under its jurisdiction on Jan 29.

According to the bilateral free trade agreement, which came into force on Jan 1, 2022, the proportion of zero-tariff items offered by China and Cambodia to each other are 97.5 percent and 90 percent, respectively, all-time highs since negotiations were carried out on the FTA.

The implementation of the Sino-Cambodia FTA is expected to bring more opportunities to enterprises looking to boost development and increases their order quantities.

“The tariff on several kinds of frozen vegetables in Cambodia has declined from 7 percent to 0 percent, which is expected to reduce costs from the current 12,000 yuan ($1,886.4),” said Li, manager at Binzhou Yidefu Food Co Ltd.

Binzhou customs has set up a special consultancy window for certificate of origin, carried out product-oriented training online and offline to interpret the relevant rules of FTA origin and several related policies like tariff concessions, provided information to enterprises on the favorable conditions and benefits of tariff concession, and told them how to apply for the certificate in order to make the most of the new policy.