Customs officers at the Dongdu Customs Comprehensive Service Hall of the Xiamen Free Trade Zone guided a declarant from Xiamen King Long International Trading Co Ltd in printing a certificate of origin under the China-Africa Common Development Partnership Agreement (CADEPA) between China and the Republic of Congo on April 1. The certificate will accompany a shipment of King Long bus parts as a preferential trade document for export to Congo.
This marks the first China-Congo certificate of origin issued in Fujian province since the Early Harvest Arrangement for the Agreement on Economic Partnership for Shared Development between the Government of the People's Republic of China and the Government of the Republic of the Congo took effect, also on April 1.
As a leading manufacturer of large buses, King Long stands to benefit from lower production costs following the entry into force of the relevant preferential trade agreement.
The certificate of origin not only provides the company with preferential tariffs but also speeds up customs clearance, helping it further expand into the local market. With this "economic passport", King Long will enjoy a 4-percentage-point tariff reduction.
From April 1 China is granting full zero-tariff access to Congo's key resource and agricultural exports, including energy minerals, tropical logs, cocoa, and coffee.
In return, Congo will offer preferential tariff access to major Chinese exports such as construction machinery, auto parts, home appliances, electronics, and daily consumer goods.