‘With this Certificate of Origin, our goods worth 25.325 million yuan will enjoy a tariff reduction of 4.277 million yuan.’ Chen Si, the Customs Affairs Manager of the Company, said.

By Wu Xiaoyun

On 1st January 2025, China — Maldives Free Trade Agreement officially came into effect and was implemented. Early that morning, Nantong Customs issued the first China — Maldives Free Trade Agreement Certificate of Origin in Nantong for a batch of boiler steel racks and garbage lifting devices exported by China Tianying Inc. to the Maldives.

China Tianying Inc. is a large international listed company in Hai’an which works on environmental protection and new energy. Its business covers new energy power generation, construction and operation of waste incineration power generation facilities, development and manufacturing of environmental protection technology equipment, etc. ‘With this Certificate of Origin, our goods worth 25.325 million yuan will enjoy a tariff reduction of 4.277 million yuan.’ Chen Si, the Customs Affairs Manager of the Company, said, ‘after the free trade agreement took effect, our company’s import tariffs in the Maldives were reduced from previous 10% and 20% to zero. It is a pretty “awesome” offer, which greatly increased our products’ competitiveness in overseas markets.’

According to the tariff reduction arrangements under the China — Maldives Free Trade Agreement, the number of zero-tariff product items and trade volume promised by both parties exceeded 95%. China’s exports to the Maldives of industrial products such as ships and electrical equipment, as well as agricultural products such as vegetables and fruits will benefit. Maldives’ exports to China of advantageous aquatic products including fish and textile products will also enjoy preferential tariffs under the agreement.