China and Malaysia have begun to relax the tariffs on each other's exported and imported products – expected to bring a host of fresh economic opportunities – in the wake of the major regional trading accord called the Regional Comprehensive Economic Partnership agreement, or RCEP, coming into effect in Malaysia on March 18.

On March 21, the customs office at Lishui city – located in East China's Zhejiang province – issued its first certificate of origin for exports to Malaysia under RCEP.

RCEP is a trade agreement signed by 15 countries – including China – to form the world's largest trading bloc. Having started coming into force at the start of the year, the tariffs on goods traded among members have either been reduced to zero immediately or will be reduced gradually – with more than 90 percent of the goods in the bloc eventually having zero tariffs

A certificate of origin is a document issued by an agency in an exporting country, certifying that the goods were made or produced in that country or region. Because it can prove the nationality of merchandise, it is also called the "economic passport" of goods in international trade.

The Lishui certificate of origin was applied for by Zhejiang Shuangkai Automobile Air-Condition Co Ltd and the goods were auto condensers and evaporators.

"The RCEP accord has effectively enhanced the competitiveness of Lishui's agricultural products, chemicals, textiles and garments industries in relevant countries," said an official from Lishui Customs.

"With the implementation of RCEP in Malaysia, our enterprises will benefit more," she added.

Since RCEP came into effect in China on Jan 1, the Lishui customs office has issued 66 certificates of origin, worth $3.08 million.