RCEP cuts tariffs, streamlines customs clearance for fresh exports

The Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement, has enabled more traders to benefit from tariff reductions, creating significant business opportunities.

Official data show that since the RCEP's entry into effect in 2022, Fujian Province in east China has seen the value of its exports reach 10.31 billion yuan (about 14.3 billion U.S. dollars), ranking the first in the Chinese mainland.

The impressive figure highlights Fujian's status as one of the largest beneficiaries within the RCEP framework, a fact evidenced by the bustling airport operation in Xiamen, a coastal city in the province.

One of the key advantages for businesses there is the faster and more efficient customs clearance, which helps maintain product freshness during transport.

"Fresh-cut flowers are quite delicate. If the export process isn't completed in the shortest possible time, they might wilt or rot. Since the entry into effect of the RCEP, we can now complete the customs declaration, inspection, and clearance process for flowers exported to Singapore in as fast as two hours, saving at least 12 hours compared to before," said Qiu Huali, head of a local logistics company.

This expedited clearance process is made possible by the RCEP's rules.

"According to the RCEP rules, perishable goods like flowers and fresh produce can clear customs within six hours between member countries. This also applies to airfreight, with general cargo typically cleared within 48 hours after arrival," said Zheng Zhe, an official at the Xiamen Airport Customs Office.

Qiu said his company looks forward to expanding their markets by leveraging the pact's benefits.

"Our Singaporean customers have provided feedback, saying they are impressed with the freshness of our flowers, which far exceeds that of our competitors. We are now planning to expand our export reach to Japan, Australia, and other RCEP member countries," Qiu said.

Qiu's goal reflects the growing trade opportunities within the RCEP framework.

Effective to the signatories as of January 1, 2022, the RCEP comprises 10 ASEAN member states, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, together with their five free-trade partners which are China, Japan, South Korea, Australia and New Zealand.

RCEP cuts tariffs, streamlines customs clearance for fresh exports

The Russian Defense Ministry said on Thursday that Russia's armed forces continued to strike Ukrainian forces in multiple directions and has taken control of one more settlement in the Donetsk region, while Ukraine, on the same day, reported strikes against several key facilities in Russia.

"As a result of decisive actions, units of the Southern Group of Forces liberated the settlement of Sviato-Pokrovske in the Donetsk region," the Russian Defense Ministry said in a statement.

Russian troop clusters continued to strike Ukrainian forces in the directions of Sumy, Kharkiv, Donetsk, Zaporizhzhia, Dnipropetrovsk and Kherson.

Russian air forces, strike drones, missile units and artillery struck 142 areas of Ukrainian military airport and port infrastructure, strike drone production facilities, energy facilities supporting Ukrainian military operations, as well as temporary deployment points of Ukrainian forces and foreign mercenaries.

Additionally, Russian air defense systems shot down six aerial bombs, one U.S.-made HIMARS rocket, and 472 fixed-wing unmanned aerial vehicles in the special military operation zone over the past 24 hours, the ministry added.

On the same day, the General Staff of the Armed Forces of Ukraine said that to weaken the combat capabilities of the Russian armed forces, Ukrainian forces carried out strikes on several key facilities in Russia.

Two oil storage tanks caught fire at the southern Russian port of Temryuk after a drone attack.

The total fire area is approximately 2,000 square meters. And 70 personnel and 18 pieces of equipment are involved in the firefighting effort.

Temryuk is a major seaport on the Black Sea, vital to Russia's export of oil and petroleum products, and it is also one of the important logistics support hubs for the Russian military.

In addition, Ukrainian forces carried out strikes on the military airport located in Maikop City, claiming that the fire caused had a significant impact on the normal operation of the airport.

It also reported that Ukraine's air force struck the Novoshakhtinsk oil refinery in Russia's Rostov Oblast using Storm Shadow long-range cruise missiles, triggering multiple explosions, with the extent of damage still being clarified.

Russia reports multi-directional strikes against Ukraine, Ukraine claims strikes on key facilities in Russia