Zhejiang Retronx Foodstuff Industry Co. [Photo/wifizs.cn]

Zhejiang Retronx Foodstuff Industry Co obtained a certificate of origin under the China-Serbia Free Trade Agreement from Zhoushan Customs on Aug 2. This certificate allows the company to benefit from approximately 4,500 yuan ($630) in tariff reductions on 450,000-yuan worth of canned tuna exported to Serbia.

Since the China-Serbia FTA came into effect on July 1, Zhoushan Customs has issued five such certificates, benefiting 78.9 metric tons of exports valued at 1.878 million yuan. This has resulted in nearly 20,000 yuan in tariff savings for exporters.

Serbia has emerged as a new market for Zhejiang Retronx Foodstuff Industry Co. According to the company's foreign trade manager Zhang Zongying, the tariff rate on canned tuna will gradually decrease from 10 percent to 0 percent over the next decade under the FTA. This reduction enhances the competitiveness of their flagship product, leading to an increase in orders from Serbian customers and an anticipated 20-percent growth in export value this year.

To date, China has signed 22 FTAs with 29 countries and regions. From January to July, Zhoushan Customs issued 5,329 certificates of origin for exports, a 10.6-percent year-on-year increase, benefiting 4.52 billion yuan in goods, a 53.8-percent year-on-year growth.

Editor: Cheng Dengyu