The Regional Comprehensive Economic Partnership (RCEP) agreement, the world’s largest free trade agreement, entered into force on Saturday.
After the agreement takes effect, more than 90 percent of merchandise trade among members that have approved the agreement will eventually be subject to zero tariffs.
On 1st，Jan, 2022, our custom issue the first RCEP Certificate of origin, which it means we could get the RCEP Certificate of origin to the clients among the members countries, which will be more conducive to import the HDPE/PVC pipe and fittings from China, and just need to pay lower or Zero import tariff.
After the agreement takes effect, the biggest tariff reduction will be on plastic products(Including plastic pipes and fittings, HDPE/PVC/PPR pipe and fittings, HDPE geosynthetics), machinery(HDPE/PVDF Welding Machine, Geomembrane welding gun), textiles, bags and suitcases. This is really good news for our HDPE/PVC pipe and fittings industry. Hope it will have a prosperity year of 2022.
With optimized trade rules among signatories, streamlined procedures and wider opening-up in the sectors of services-trade and investment, the RECP will bring tangible benefits to the member countries.
China will fully implement the obligations of the RCEP agreement and guide local governments, industries and enterprises to better seize the opening-up opportunities, according to the Ministry of Commerce.
The country will work actively with other members to build the RCEP mechanism into a major platform for economic and trade cooperation in East Asia, the ministry said.
The RCEP includes 10 ASEAN members, 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. RCEP to bring significant benefits to all members.
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