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
Jordan, Kuwait and Bahrain said on Monday that they have intercepted Iranian aerial attacks.
The Jordan Armed Forces-Arab Army said in a statement Monday night that its air defenses intercepted three missiles launched from Iran.
It said the interception caused no casualties or material damage, adding that it remains on high alert and will respond firmly to any threats to national security and sovereignty.
The General Command of the Bahrain Defense Force said that its air defense systems intercepted and destroyed multiple Iranian aerial attacks against the kingdom.
It condemned what it called Iran's "systematic hostile approach," saying the "deliberate use of missiles and drones to target civilians and private property" violates international humanitarian law.
Kuwait's armed forces said on Monday its air defense systems were intercepting "hostile" missile and drone attacks, as explosions were heard in parts of the country.
In a statement on social media platform X, the General Staff of the Kuwaiti Armed Forces confirmed the explosions resulted from air defense systems engaging with "hostile" aerial attacks, urging the public to follow safety instructions issued by authorities.
Iran's Islamic Revolution Guard Corps said earlier on Monday that it had launched missile and drone strikes against U.S. assets and facilities in Kuwait and Jordan in response to continued U.S. airstrikes on Iran.
Recent strikes on Kuwait targeted military installations and some of its vital infrastructure, including oil facilities and power and water desalination plants, causing injuries and material damage.
Explosions were heard on Monday evening in Iran's southern provinces of Hormozgan and Fars, the semi-official Mehr news agency reported.
Several explosions were heard in Hormozgan's Sirik County, Mehr cited local citizens as saying, adding the nature of the blast remains unclear.
It also quoted Seyed Ahmad Ahmadizadeh, Fars' deputy governor for political, security and social affairs, as saying that the United States has carried out an airstrike against a region in the provincial capital Shiraz, without causing casualties.
Earlier in the day, Iranian President Masoud Pezeshkian declared a "full-scale war" with the United States. Foreign Ministry spokesperson Esmaeil Baghaei said Iran has received mediation proposals and keeps its diplomatic channels open.
The United States has launched multiple strikes on Iran's southern provinces over the past week, saying they were aimed at "degrading Iran's ability to threaten commercial shipping."
Iran has responded with waves of missile and drone attacks targeting U.S. military bases and facilities in regional countries, including Kuwait, Bahrain and Jordan.
Jordan, Kuwait, Bahrain say intercepted Iranian aerial attacks
