RCEP Helps HMB Excavator Attachments Globalization
On January 1, 2022, the world’s largest free trade area, consisting of ten ASEAN countries (Vietnam, Indonesia, Malaysia, the Philippines, Thailand, Singapore, Brunei, Cambodia, Laos, Myanmar) and China, Japan, South Korea, and Australia , New Zealand’s 15-country Regional Comprehensive Economic Partnership (RCEP) came into force.
As the world’s largest free trade area, after the RCEP agreement takes effect, more than 90% of the trade-in goods among the approved members will eventually achieve zero tariffs. For foreign trade companies in our machinery industry, this is a huge bonus.
Use RCEP to reduce tariffs and reduce the cost of importing raw materials and intermediate products for machinery manufacturing such as steel and key components from member countries such as Japan and South Korea. At the same time, the further opening of ASEAN has also provided us with a broader international market.
More than 1/3 of RCEP excavator attachment customers choose Yantai Jiwei attachment. The price of Jiangtu accessories purchased by customers will gradually decrease, but the quality will not change, and the quality is still the first principle. Customers are happy. HMB brand accessories will also be widely promoted and used in RCEP member countries.
Post time: Mar-18-2022