RCEP promotion month launched in Linyi, Shandong

The launch ceremony for the RCEP Promotion Month by Customs Authorities along the Yellow River is held on April 20 in Linyi. [Photo/Linyi Daily]

The launch ceremony for the RCEP Promotion Month by Customs Authorities along the Yellow River was held on April 20 in Linyi in East China's Shandong province.

Qingdao Customs is working with commercial, trade promotion and judicial authorities as well as other customs authorities along the Yellow River basin to enhance the awareness and capabilities of enterprises so they can take advantage of all relevant free trade agreements, especially the Regional Comprehensive Economic Partnership (RCEP).

During this month, efforts will be made to provide tax policy training to enterprises that have not fully benefited from these agreements and address the challenges and obstacles faced by businesses in utilizing the benefits on offer.

The initiative aims to leverage the customs clearance coordination mechanism established with free trade partners to alleviate difficulties that enterprises face, helping them to fully take advantage of the tariff concessions in a bid to reduce costs, enhance efficiency, and make their exported products more competitive.

RCEP member countries are important trade partners for Shandong. Last year, the province's trade with other RCEP members reached 1.27 trillion yuan ($186 billion), accounting for 36 percent of the province's total trade volume.

Through tariff reductions and efficient facilitation measures, RCEP promotes the tighter integration of industries and supply chains in the region, facilitating the mutual promotion of domestic and international markets and resources, and driving Shandong's high-quality development.