SIP Customs issues first China-Serbia FTA Certificate of Origin in Jiangsu Province

The China-Serbia Free Trade Agreement came into effect on July 1. And on the same day, Suzhou Industrial Park (SIP) Customs issued the first China-Serbia Free Trade Agreement Certificate of Origin in Jiangsu Province.

SIP Customs issued this Certificate of Origin to Suzhou Samsung Electronic Home Appliances Co., Ltd. for a batch of washing machines which would be exported to Serbia. With such a certificate of origin, the export goods worth 194,900 yuan could have a tariff discount of 3,899 yuan when clearing customs in Serbia.

Serbia is a new market to Suzhou Samsung Electronic Home Appliances Co., Ltd. "Our major exports to Serbia are drum washing machines and refrigerators and the export value in the first half of this year exceeded 1.7 million yuan," said Tan Meifang, head of the international trade department of the company. With the certificates of origin under the China-Serbia Free Trade Agreement, the company would enjoy a tariff reduction of about 40,000 yuan in the second half of the year, which would help expand its market in Serbia by enhancing the competitiveness of its goods, Tan added.

The China-Serbia FTA is the first free trade agreement signed by China with a central and eastern European country and the 22nd free trade agreement signed by China. Serbia becomes China's 29th free trade partner. Upon the entry into force of this FTA, both countries will gradually eliminate tariffs on 95 percent of goods. The implementation of the China-Serbia Free Trade Agreement will further unleash the potential for trade and investment cooperation between the two countries, enhance the quality and level of bilateral economic and trade relations, and deliver substantial benefits to businesses and consumers in both countries.

In the first five months of this year, SIP's foreign trade with Serbia reached 72.16 million yuan, up 64.4% year-on-year.

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