RCEP conducts an overall impact assessment on the industry

In general, the implementation of RCEP will have a positive impact on the future development of the industry.

1.Promote the development of export trade.

RCEP member countries are the world’s largest production bases for textile, garment and footwear industries. The implementation of RCEP will, to some extent, further reduce export costs for enterprises and expand trade.In the long run, it will also accelerate the international distribution of downstream industries such as textiles, clothing, shoes and hats, and accelerate the transfer of low-end manufacturing to asean and other labor-intensive markets.

2.We will promote industrial transformation and upgrading.

RCEP will enable China, Japan, Vietnam and other sewing machinery industries to compete on the same platform, and the industry will face two-way extrusion from the middle and high end and middle and low end, reducing the comparative advantages of China’s sewing equipment and accelerating the evolution of China’s sewing equipment industry from the middle and low end to the middle and high end.

3.To promote international exchanges and cooperation.

The large integrated market formed by RCEP is more conducive to the technical cooperation and production capacity cooperation between Chinese sewing enterprises and Japan and South Korea, and to expand the import of advanced technology, equipment and key parts. At the same time, it is also convenient for Chinese industrial enterprises to set up marketing branches, manufacturing and R&D bases in RCEP region, and make better use of the two resources.

4.We will promote the development of compliance systems.

The implementation of RCEP will bring new changes to the existing customs supervision, with higher potential new requirements for enterprises in import and export compliance management, foreign trade personnel training, and the improvement of personnel management in customs affairs.

5.Further coordinate and integrate the industrial chain of China and ASEAN

In export trade to Japan in particular, unnecessary waste of resources and inefficient allocation will no longer be necessary to avoid restrictions on rules of origin. In this way, it can give full play to the high-end manufacturing advantages of China’s textile and garment industry, especially intermediate products, and always maintain China’s central position in the global supply chain, which has a positive driving effect on the domestic sales and export of sewing equipment.

Because China has a complete system of industrial sewing machinery manufacturing, industry cluster advantage, innovation, manufacturing advantages, geographical advantages, the RCEP regional national or the industry foundation is weak or high manufacturing costs, a short period of time can’t afford to sewing equipment of large-scale industrial transfer, will not cause the risk of China sewing machinery industry foreign transfer.

(Data source: General Administration of China Customs)


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