More foreign companies use CIIE as stepping stone to enter China after RCEP agreement takes effect

0

(Yicai Global) Nov. 8 — With the implementation of the Regional Comprehensive Economic Partnership Free Trade Agreement, this year’s China International Import Expo has become an important launching pad for more trade. ‘foreign enterprises to enter the Chinese market.

More than 172 Japanese sake brands displayed their products in the CIIE’s “Japan Mall” sake test area this year, up from 70 brands last year, showing the positive impact of the RCEP agreement, said Kenji Mizuta, chief representative of the Trade Organization’s Japan External Shanghai Office.

The RCEP agreement is the first bilateral tariff concession agreement between China and Japan. Chinese import fees for Japanese scallops, sake and shochu products will drop year by year and eventually reach zero.

Tariffs for Japanese sake brands entering China used to stand at 40%, but with the entry into force of the RCEP agreement, they will gradually drop to zero, allowing sake brands to seize all market opportunities. export to the Chinese market, Mizuta added.

To establish a platform for agricultural products from RECP member countries, the CIIE Food and Agricultural Commodities Section has a special RCEP Green Agribusiness Regional Subsection this year.

The RCEP agreement has enabled tax advantages between member countries and accelerated commercial advances that have a significant impact on the activities of Dole, Wang Na, marketing director of the Chinese branch of the producer of fresh fruits and vegetables.

“The access of fresh food products from RECP countries to the Chinese market has accelerated these days,” Wang added. “For example, Vietnamese durian, Indonesian pineapples and Burmese bananas have already been allowed into China this year, while Philippine durian is expected to be next on the list.

New Zealand-based Fonterra is happy to see more dairy companies entering China through the RCEP mechanism, Bo Shuangyu, vice president of Fonterra Co-Operative Group China, who attended the CIIE for the fifth consecutive year. The company will work with new entrants to improve China’s dairy market, Bo noted.

Products from RCEP member countries, especially Japan, will benefit from reduced trade tariffs, and manufacturers and distributors from these countries will be more active during the CIIE to increase export volume to China, Zhou Liang said. partner of the Department of Government and Public Affairs. from Ernst & Young (China) Advisory, adding that companies can also better use RCEP’s rules of origin to adjust their industrial scheme.

In addition, as the RCEP agreement comes into effect, the CIIE will further develop from a platform connecting Chinese and foreign enterprises to a platform connecting the Asia-Pacific region with the rest of the world, offer more opportunities to professional service providers and design, education, and training institutions, and help more foreign players in China’s financial and telecommunications sectors, Zhou Liang said.

Editors: Tang Shihua, Futura Costaglione

Share.

About Author

Comments are closed.