Recently, Jincheng customs under Lanzhou Customs issued the first new version of the China South Korea free trade agreement certificate of origin for a batch of single screw pumps exported by Netzsch (Lanzhou) pump Co., Ltd. to South Korea. With this certificate, the enterprise will enjoy a tariff reduction of about 7505 dollars from the importing country.

According to the announcement of the General Administration of Customs on adjusting the format of certificates of origin under the China South Korea free trade agreement, from June 12, 2022, the China South Korea free trade agreement certificate of origin will cancel the limit of 20 items of goods, which will provide greater convenience and flexibility for enterprises to declare certificates of origin.

"In the past, a China South Korea certificate of origin can only declare 20 items of goods. If the quantity exceeds, it will be applied for in batches, and the corresponding customs declaration will also be reported in batches. The new certificate cancels the limit on the number of items, makes it easier to fill in and submit, and improves the efficiency of customs clearance." Netzsch (Lanzhou) pump industry Co., Ltd. said relevant business personnel.