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    Home > Chemicals Industry > China Chemical > 15 countries formally sign RCEP, the instrumentation industry ushered in a new trade situation

    15 countries formally sign RCEP, the instrumentation industry ushered in a new trade situation

    • Last Update: 2022-03-21
    • Source: Internet
    • Author: User
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    [ Focus on Chemical Machinery and Equipment Network ] On November 15, 2020, a heavy news came and became the focus of attention of all countries.
    After 8 years of negotiations, people from 15 countries* including China, Japan, Singapore, etc.
    signed the RCEP agreement through video conferencing.

     
    Chemical machinery and equipment network hotspots pay attention to chemical machinery and equipment
    It is understood that RCEP generally refers to a regional comprehensive economic partnership.
    The member countries specifically include Indonesia, Malaysia, the Philippines, Thailand, Singapore, Brunei, Cambodia, Laos, Myanmar, Vietnam, China, Japan, South Korea, Australia, and New Zealand.
    The content of the agreement includes the elimination of internal trade barriers, the creation and improvement of a free investment environment, the expansion of service trade, intellectual property protection, competition policy and other fields.

     

    According to the agreement, the 15 countries will adopt bilateral bidding arrangements for the liberalization of trade in goods.
    After the agreement takes effect, more than 90% of the goods trade in the region will eventually achieve zero tariffs, and the tax will be reduced to zero immediately and within 10 years.
    The tax is zero, so that the RCEP free trade zone is expected to fulfill all the promises of liberalization of trade in goods in a relatively short time.

     

    * Said that the successful signing of RCEP will play an extremely important role in enhancing the economic recovery of various countries after the epidemic and promoting the prosperity and development of *.
    The further acceleration of the process of trade liberalization will bring greater promotion to regional economic and trade prosperity.
    The preferential results of the agreement will directly benefit consumers and industry enterprises, and will play an important role in enriching consumer market choices and reducing corporate trade costs.

     

      The conclusion of any agreement will ultimately return to the two aspects of economic development and the benefits to the people.
    As far as China's instrumentation industry is concerned, the signing of RCEP will surely promote the "going out" and "bringing in" of China's instrumentation industry, opening up a new trade situation.

     
    Instrumentation
      As a means and equipment commonly used in industry, agriculture, scientific research and other fields for measurement, acquisition, analysis and control, the application range of instrumentation products covers almost all areas of human activities.
    After decades of development, my country's instrumentation industry has formed an industrial system with a relatively complete product range, a certain scale of production and development capabilities, and it has grown extremely rapidly.
    Some products have also been exported to overseas markets in large quantities while meeting the needs of the domestic market.

     

      Since the fermentation of the trade war in 2018, the increased tariffs imposed by the United States have indeed put pressure on the profits of many export companies, but in the past year, most export companies have been actively seeking market diversification to reduce the impact of tariffs imposed by the United States on companies.

     

      This time, the direct benefit of the signing of RCEP is the reduction of trade tariffs among the member states of the agreement, making it easier for companies to invest abroad and export goods and services.
    For enterprises engaged in the export trade of instruments and meters, it is conducive to increasing product exports, increasing corporate income, improving product competitiveness, and expanding overseas markets.

     

      In addition, due to tariff reduction and exemption, the cooperation and collaboration of instrumentation products in the overall industry chain has made them more attractive and cheaper.
    At the same time, the two domestic markets can communicate with each other more conveniently, which is conducive to domestic companies importing instrumentation products to meet demand.
    .

     

      This time, 15 countries have signed RCEP.
    In the tariff commitment table of each country, the instruments and meters involved include wave devices, spectrum analyzers and other instruments and devices used for electricity measurement or inspection; hardness, strength, compressibility, elasticity or other machinery performance tester device and apparatus; chemical analysis instruments and devices (e.
    g.
    , gas chromatography, liquid chromatography, spectrometer) and the like.

     
    Testing Machine
      It is foreseeable that with the implementation of uniform rules such as rules of origin, customs procedures, inspection and quarantine, and technical standards, the abolition of the superposition of tariff and non-tariff barrier effects will gradually release the trade creation effect of RCEP.
    As the second largest producer of instruments and meters, the competitiveness of my country's instrumentation products will be further enhanced, benefiting more companies and consumers.

     

      Original title: 15 countries formally sign RCEP, the instrumentation industry ushered in a new trade situation
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