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Chinese freight train departs for Vietnam after RCEP takes effect

Updated:2022-01-04 10:25:57   Xinhua

A freight train departed from south China's Guangxi Zhuang Autonomous Region early December1 for Vietnam, a member country of the Regional Comprehensive Economic Partnership (RCEP) agreement after the agreement came into force on the same day.

The X9101 train carrying more than 800 tonnes of cargo left the Nanning international railway port in the regional capital Nanning at 0:05 a.m. on New Year's Day and is expected to reach Hanoi in 28 hours.

The cargo included electronics, daily necessities and chemical products.

The RCEP agreement will to a large extent lower the customs duties, said Ma Ziqiang, general manager of a local supply chain service provider that owns the delivered cargo.

The RCEP groups the 10 members of the Association of Southeast Asian Nations, as well as China, Japan, the Republic of Korea, Australia and New Zealand. The 15 states' total population, gross domestic product and trade all account for about 30 percent of the world total.

According to the RCEP agreement, more than 90 percent of merchandise trade among members that have approved the agreement will eventually be subject to zero tariffs.

Keywords:   freight train Vietnam RCEP