Fujian's first China-Serbia FTA certificate of origin issued in Xiamen
On July 1, the China-Serbia Free Trade Agreement (FTA) officially came into effect.
On the same day, Dongdu Customs under Xiamen Customs issued a China-Serbia FTA certificate of origin for a batch of aluminum foil exported to Serbia by Xiamen Xiashun Aluminium Foil Co Ltd.
This is the first certificate of origin under the China-Serbia FTA to be issued in Fujian province since the agreement's official implementation on July 1.
The certificate of origin will allow the batch of aluminum foil, valued at over 2.3 million yuan ($316,222), to enjoy a five percent reduction in import duties in Serbia. The estimated tax reduction exceeds 110,000 yuan.
A representative from Xiashun stated that Serbia has been a key international market for the company in recent years. Benefiting from the tariff reductions under the FTA, the export competitiveness of the company's products has significantly increased, and it expects a new surge in orders from Serbia.
Upon the agreement's implementation, both parties will gradually eliminate tariffs on 90 percent of tariff lines, with over 60 percent of these tariffs being removed immediately on the day the agreement takes effect.
Major exports from Fujian, such as automobiles, photovoltaic modules, lithium batteries, communication equipment, machinery, and certain agricultural and aquatic products, will benefit from this agreement, with tariffs gradually being reduced to zero.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.