Tianjin Daily (By Reporter Ma Xiaodong) — Recently, a shipment of bicycle components from Tianjin Quanfu Automobile Industry Co., Ltd. was packed and dispatched, set to be exported to Belgrade, Serbia via the CR Express from Xi'an. With the China-Serbia Free Trade Agreement Certificate of Origin issued by Tianjin Customs, the importer of this shipment will save RMB 17,000 in tariff expenses.
"This year, recognizing Serbia's market potential, we ventured into the European market for the first time with our products. The free trade agreement has reduced tariff costs, enhancing our product competitiveness," said Luo Xianhua, the company's General Manager.
Reportedly, the China-Serbia Free Trade Agreement will come into effect on July 1, 2024. Both nations will progressively eliminate tariffs on 90% of tariff lines, with approximately 95% of import volumes eventually achieving zero-tariff status. Taking bicycle saddles as an example, the Most-Favored-Nation (MFN) tariff rate for this product in Serbia is 10%, while the preferential rate under the China-Serbia Free Trade Agreement is 0%.
A Certificate of Origin serves as a "passport" for goods entering international trade and is a crucial document for obtaining tariff preferences in importing countries, often referred to as "paper gold". From January to March this year, Tianjin Customs issued 14,000 Certificates of Origin under various free trade agreements for exported goods from our city, marking a 7.9% year-on-year increase, with tariff concessions over RMB 6.63 billion.
Disclaimer：The above content is translated from Chinese version of Tianjin Daily. The Tianjin Daily version shall prevail.