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Taizhou starts direct exports to RCEP countries

chinadaily.com.cn| Updated: June 15, 2022 L M S

The ship Xinmingzhou 18, loaded with 80 containers of goods exported by 11 Chinese enterprises, left Yuhuan Damaiyu Port in Taizhou, Zhejiang province, for the Port of Haiphong in Vietnam on Monday. It was Yuhuan Damaiyu Port's first direct export shipment under the Regional Comprehensive Economic Partnership (RCEP).

The port has increased its efforts to contribute to the RCEP's economic development. The new route is expected to save both time and logistical costs, alleviating pressure on foreign trade enterprises that ship from Taizhou to surrounding areas in the region. It enhances these companies' competitiveness and expands their foreign trade market potential.

"Products from Taizhou used to be shipped to Ningbo Port first, and then to Vietnam. But now, one to two days are saved by shipping directly from Taizhou," said Dai Chacong, general manager of the Taizhou Branch of Ningbo Xinggang International Shipping Agency.

According to Taizhou Customs, the city's import and export value to RCEP member countries reached 16.99 billion yuan ($2.54 billion) in the first four months of this year, accounting for 19.3 percent of the its total import and export value and making them the second-largest foreign trade link for Taizhou.

Taizhou currently has 1,053 foreign trade enterprises exporting to Vietnam — mainly mechanical and electrical products, consumer goods and agricultural products — hitting a value of more than 1.5 billion yuan.

Taking effect on Jan 1, the RCEP involves 15 Asia-Pacific countries, including 10 ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) and their five trading partners (China, Japan, South Korea, Australia and New Zealand).

Fang Xiaoying contributed to this story.