On July 25, China’s southern province of Hainan issued the first China-Serbia Free Trade Agreement Certificate of Origin for a shipment of double-sided coated paper worth about 1.78 million yuan ($0.25 million) produced by Hainan Jinhai Pulp & Paper Co., Ltd. This certificate entitles the company to a reduction of around 17,800 yuan ($2,455) in Serbian import tariffs.

Aerial view of the Yangpu International Container Terminal in Hainan. (Photo: Hinews)

This is the first shipment of products that Hainan foreign trade enterprises have exported under the China-Serbia Free Trade Agreement, which officially came into effect on July 1.

According to the deal signed in October 2023, approximately 90 percent of the main products traded between China and Serbia will be gradually exempted from tariffs. Over 60% of tariffs were immediately abolished on the day the agreement came into effect, with the goal of further improving the quality and amount of economic and trade cooperation between the two nations. Import tariffs on most Chinese products entering the Serbian market such as automobiles, mechanical equipment, and lithium batteries, as well as Serbian products entering the Chinese market, such as generators, beef, and wine, will gradually be reduced to zero.

A representative of Hainan Jinhai Pulp & Paper Co., Ltd. said that thanks to the China-Serbia Free Trade Agreement, tariffs on the company’s shipments of double-sided coated paper exported to Serbia have been reduced from 1% to zero, reducing costs for Serbian customers and improving the international competitiveness of the company’s products. Since the start of the year, they have exported around 4 million yuan ($0.6 million) of paper to Serbia, and expect export volume to increase in the future.

Next, Haikou Customs will continue to support Hainan companies exporting products to Serbia by issuing certificates of origin under the China-Serbia Free Trade Agreement in order to help them enjoy tariff reductions and exemptions, assisting local companies to expand their international markets.