Southeast Asia Information Port News (www.dnyxxg.com) – On May 1st, reporters learned from Wuhan Customs that Hubei Province's first shipment of goods benefiting from the zero-tariff policy for imports from 53 African countries with which it has diplomatic relations successfully cleared customs.
On the same day, with customs officers in Jingmen completing the final clearance procedures, a gypsum company in Jingmen imported raw gypsum from Morocco, Africa, becoming Hubei Province's first shipment to benefit from the zero-tariff policy.
Since the beginning of this year, the gypsum company has imported goods worth 1.8 million yuan (RMB) from African countries. "Our imported raw gypsum was previously subject to a 5% most-favored-nation (MFN) tariff rate. After the implementation of the zero-tariff policy, the company can save 500,000 to 700,000 yuan in taxes annually for the same purchase price," said Zhou Chai, the company's foreign trade manager.
Hubei and Africa have close economic and trade ties. In the first quarter of this year, Hubei Province's imports and exports to Africa reached 8.3 billion yuan. To ensure the implementation of the zero-tariff policy and help Hubei Province further expand its trade and economic exchanges with African countries with which it has diplomatic relations, Wuhan Customs conducted in-depth analysis of import data, accurately identified eligible enterprises and commodities, and guided enterprises to contact foreign parties to obtain certificates of origin and submit declarations of origin. On the first day of implementation, it ensured rapid customs clearance for multiple shipments enjoying preferential treatment.
The customs affairs manager of Wuhan Yangluo Port Service Co., Ltd. explained that previously, some African-origin goods imported through the company's agency faced limited purchasing intentions from end customers due to high tariff costs. On the first day of the full implementation of the zero-tariff policy, a batch of extra virgin olive oil imported from Tunisia, which the company was acting as an agent for, saved over 100,000 yuan in tariff costs per shipment. (End)
