Hydraulic Filter Press
Home /


/Foreign Trade Impact After RCEP Signing

Foreign Trade Impact After RCEP Signing

Nov 20, 2020

Foreign Trade Impact After RCEP Signing


    RCEP is Regional Comprehensive Economic Partnership, initiated by the ten ASEAN countries, China, Japan, South Korea, Australia, New Zealand, and India are invited to participate ("10+6") to establish a free trade agreement for a unified market of 16 countries through reduction of tariffs and non-tariff barriers.Indiain 2019 Withdraw, there are currently 15 member states.


     The completion of RCEP will form a unified economic and trade rule and a convenient multinational business environment in the region, which will facilitate the convenient flow of goods, technology, services, capital, and personnel in the region, promote trade and investment between member states, and increase the attraction of foreign investment Power, forming significant trade creation, investment creation, and extraterritorial “spillover effects”, promoting regional economies and driving world economic growth. As traditional FTAs are facing severe challenges, RCEP, as an important supplementary mechanism, can help regional economic integration. Simply put, after the completion of RCEP,China's investment, products, services, and technology can more easily enter the agreement countries, and other RCEP member states can also enter the Chinese market. At the same time, if other countries outside the region want to enterChinaand think thatChina's land cost is too high, then it becomes feasible for them to build factories inVietnam, which will also increaseVietnam's economic attractiveness, which is the "spillover effect.".


     After RCEP, these countries customers may import our filter presses and sewage slurry pump without any import tax, and import process may be easier than the past. But the challenges will also appear. Some other foreign countries may invest Vietnam to build filter press factory and slurry pump factory, or export hydraulic and electric parts, soVietnamcould assemble filter press and slurry pump by themselves.


    Therefore we should keep innovation sprit for filter press manufacture and slurry pump manufacture continuously.

Subscribe For Newsletter

For inquiries about our products or pricelist, please leave to us and we will be in touch within 24 hours.

leave a message
leave a message
If you are interested in our products and want to know more details,please leave a message here,we will reply you as soon as we can.