How RCEP Affect Glasses Industry


RCEP means Regional Comprehensive Economic Partnership.Initiated by the ten asean countries,

China, Japan, South Korea, Australia, New Zealand and India are invited to join the "10+6" free trade Agreement, which aims to establish a 16-nation single market by cutting tariff and non-tariff barriers. India will withdraw from the agreement in 2019, and currently has 15 members.


On November 15, the RCEP, the world's largest free trade agreement, was formally signed via video network.The RCEP agreement consists of the preamble, 20 chapters (mainly including trade in goods, rules of origin, trade remedies, trade in services, investment, e-commerce, government procurement, etc.), and the trade in goods, trade in services, investment and the temporary Mobile undertaking form for natural persons.In order to accelerate the liberalization of trade in goods within the region, reducing tariffs is a consensus among member states.

Procedures at the customs and trade facilitation, RCEP simplify customs clearance procedures, adopting advance ruling, arrived in pretreatment, using information technology to promote effective management means of customs procedures, where possible, to express cargo, perishable goods, etc. To strive for release after the goods arrived in 6 hours, promotes the development of express and other new cross-border logistics, promoted the fruits and vegetables, meat, eggs, dairy products and other raw products of fast customs clearance and trade growth.The overall level exceeds that of the WTO Trade Facilitation Agreement.

In addition, with the signing of this RCEP agreement, the tariff reduction among RCEP members is mainly based on the commitment to immediately reduce to zero tariff and zero tariff within ten years. The reduction and exemption of tariff has brought vitality to the foreign trade industry, and the shipping logistics situation will also usher in new variables.

For foreign trade and cross-border e-commerce merchants engaged in the import and export of GLASSES, the reduction of tariff not only reduces the cost of products and further relaxes the profit space of products, but also improves the effectiveness of the customs clearance and tax declaration measures and reduces the transportation cost.International think tanks estimate that the RCEP is expected to boost the export growth of member countries by 10.4% above the baseline in 2025.

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