Qingdao Customs Issued Shandong's First China-Serbia FTA certificate of origin

 

 

China News Qingdao, July 1 (Hu Yaojie, Zhang Xiaopeng) The Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Serbia (hereinafter referred to as "China-Serbia FTA") came into effect on July 1. In the early morning of that day, Qingdao Customs issued a China-Serbia FTA Certificate of Origin for a batch of drill pipes exported from Shandong Province to Serbia. This is the first certificate of origin for China-Serbia Free Trade Agreement issued by Shandong Province after the agreement officially entered into force.

 

 

Qingdao Customs Officers Handle the FTA Certificate of Origin for Export Enterprises. Photo by Zuo Peng

 

 

The China-Serbia FTA is the first free trade agreement signed between China and Central and Eastern European countries, as well as the 22nd free trade agreement signed by China with foreign countries. Under the agreement, China and Serbia will mutually eliminate tariffs on 90% of the tax items, of which more than 60% will be eliminated immediately on the day when the Agreement comes into effect.

In the China–Serbia FTA, zero-tariff items of both countries will account for about 95% of total imports. China has included generators, motors, tires, beef, wine, nuts, etc. originating in Serbia into its zero-tariffs list, and the tariffs on such products will gradually drop from 5%~20% to zero. Serbia has included automobiles, photovoltaic modules, lithium batteries, mechanical equipment, refractory materials and some agricultural and aquatic products originating in China into its zero-tariff list, and the tariffs on such products will gradually drop from 5%~20% to zero.

Hisense International Co., Ltd., located in Qingdao City, Shandong Province, exports nearly 40,000 LCD TVs to Serbia every year. According to Wu Tong, the company's customs manager, Serbia is an emerging market explored by the company in recent years. In 2023, the company's export to Serbia exceeded RMB 300 million (RMB, the same below). The entry into force of the China–Serbia FTA has strengthened the company's confidence in securing orders and expanding markets.

"According to the FTA Benefits Program designed by Customs, we learned that 12 products of 2 categories exported by us can enjoy tariff concessions in Serbia." Wu Tong said that with the entry into force of the China–Serbia FTA, the tariff rate on the company's largest export – LCD TVs was reduced from 15% to 12% in Serbia and will be reduced to zero within 5 years. In the second half of 2024, LCD TVs exported by the company will be able to enjoy a tariff concession of nearly RMB 1 million in Serbia.

According to Bi Haijun, Director of the Tariff Division of Qingdao Customs, after the China-Serbia FTA comes into effect, agricultural products, household appliances, photovoltaic and mechanical accessories of Shandong will be benefited. It is estimated that enterprises in Shandong Province can save about RMB 7 million in tariff costs in the second half of 2024. In the future, Qingdao Customs will take various measures to guide enterprises to make full use of preferential policies such as tariff concessions under the FTA, and continuously deepen reform and innovation in origin management to help Shandong Province accelarate foreign trade growth.

 

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Disclaimer：The above content is translated from Chinese version of China News. The China News version shall prevail.