Nansha obtains Guangdong's 1st certificate of origin under RCEP

Sartomer (Guangzhou) Chemicals obtains the certificate of origin under RCEP. [Photo/gznsnews.com.cn]

The Nansha-based Sartomer (Guangzhou) Chemicals was among the first companies in Guangdong to receive a certificate of origin under the Regional Comprehensive Economic Partnership (RCEP) that took effect on Jan 1.

RCEP now has 15 member countries, including China, Japan, South Korea, Australia, New Zealand, and 10 ASEAN countries. In terms of population, economic size and total trade, RCEP accounts for about 30 percent of the global total.

The acrylic esters produced by Sartomer (Guangzhou) Chemicals, which obtained the certificate, are mainly exported to Japan, with a total annual value of $12.87 million.

With the reduction in tariffs after obtaining the certificate of origin under RCEP, the final annual tariff savings will be 2.29 million yuan ($360,000), according to Liu Bin, president of Sartomer (Guangzhou) Chemicals Asia Pacific.

"Nansha will take the RCEP's implementation as an opportunity to boost the national import trade promotion and innovation demonstration zone and promote the high-quality development of foreign trade," said Wei Min, deputy director of the city's commerce bureau.