On June 2nd, the “Regional Comprehensive Economic Partnership (RCEP)” officially took effect in the Philippines. On the same day, Sinochem Yunlong obtained the first RCEP Certificate of Origin for export to the Philippines from Sichuan Province. With this certificate, Sinochem Yunlong’s exports of “feed-grade dicalcium phosphate and monocalcium phosphate” to the Philippines will enjoy the preferential treatment of “zero tariffs”.
By obtaining the RCEP Certificate of Origin, Sinochem Yunlong can directly reduce the 7% import tariff to 0, resulting in an annual reduction of approximately $1.54 million in import tariffs for its customers. This not only helps customers lower their import costs but also enhances the competitiveness of Sinochem Yunlong’s high-phosphorus feed calcium products in the Philippine market.