In the first half of the year, Nanjing Customs issued 50,500 RCEP certificates of origin for exports worth 16.666 billion yuan, 44.80% and 13.05% year-on-year increase respectively, ranking first among customs authorities nationwide. During the same period, enterprises in Jiangsu benefited from the agreement for imports worth 8.97 billion yuan, up 90.95% year-on-year.

More enterprises in Jiangsu Province have benefited from the Regional Comprehensive Economic Partnership Agreement (RCEP) one month after the agreement’s full implementation among 15 member countries.

The agreement, signed in November 2020, entered into force on the first day of 2022, creating the world’s largest trade block. RCEP will ultimately eliminate tariffs on over 90% of the goods traded among its signatories.

Among companies that take advantage of the agreement, the BASF-YPC Company Limited, a joint venture between BASF and Sinopec, received 93 RCEP certificates of origin for goods with an export value of about 13.5 million yuan, said Zhou Junfeng, the company’s export director.