RCEP takes full effect for 15 member countries

[Photo provided to chinadaily.com.cn]

Inside the workshop of Dalian Haier Air Conditioning Co Ltd, a batch of air conditioner products destined for export to the Philippines is being produced at an accelerated pace. In February of this year, Haier delivered its first-ever shipment of 2,000 air conditioners to the Philippines, marking its entry into the Southeast Asian market and achieving a positive result.

On June 2nd, the Regional Comprehensive Economic Partnership (RCEP) officially came into effect for the Philippines. As a result, Haier's air conditioning products for the Filipino market have transitioned from small-scale trial production to full-scale manufacturing. It is estimated that over 25,000 air conditioners will be exported to the Philippines this year, resulting in an additional production value of more than 20 million yuan ($2.77 million).

Meanwhile, following the implementation of the RCEP for the Philippines, Dalian Customs issued the country's first RCEP Certificate of Origin. This is also the first Certificate of Origin issued by Liaoning province for RCEP trade with the Philippines.

The RCEP has now become fully operational for all 10 ASEAN countries, as well as Australia, China, Japan, South Korea, and New Zealand. This comprehensive trade agreement entails mutual tariff reductions and is entering a new phase of complete implementation.