The much-anticipated Regional Comprehensive Economic Partnership (RCEP) which entered into force on January 1 for Southeast Asian nations, is the world's largest free-trade agreement.
XUZHOU, China, Jan. 14, 2022 /PRNewswire/ -- XCMG Import & Export Company Co., Ltd. has been approved by Nanjing Customs as one of China's first approved RCEP exporters and named as China's first declaration of origin for the export of a concrete mixing truck to Thailand.
The implementation of "approved exporter" facilitation measures under the RCEP allows customs-approved exporters to issue a declaration of origin and receive preferential tariff treatment, which further reduces the export management costs of companies and expedites customs clearance.
As a leading Chinese construction machinery manufacturer, XCMG has advanced Authorized Economic Operator (AEO) certification from China Customs and is currently ranked third in the global market. XCMG's various products, including hoisting, excavation and loading machineries, are exported to 187 countries and regions worldwide, with growing market share and brand recognition.
"With RCEP taking effect, the company's export of construction machineries and parts can enjoy more preferential tariffs. As a leading exporter in China's construction machinery industry, XCMG has a total export volume exceeding 10 billion yuan (US$1.57 billion) annually and the implementation of RCEP will continue to lower conventional tax rates, which will save on taxes for the enterprise and bring concrete benefits," said Liu Jiansen, Assistant President of XCMG and General Manager of XCMG Import and Export Co., Ltd.
The concrete machineries XCMG has delivered to a customer in Thailand under the RCEP will be used in the construction of an industry park that builds major warehouses. To ensure construction quality and improve working efficiency, XCMG has surveyed the complex local terrain and customized the equipment according to the customer's needs, featuring an operation system in Thai language, optimized mixing station silo design and lightweight product that's compatible with the facility's spiral connecting height, offering a comprehensive solution that covers the entire life cycle of the equipment.
The customer has spoken highly of the equipment's working efficiency and stability, saying the product is not only convenient to operate, but also highly adaptable to the local working conditions.
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