What impact will the signing of RCEP have on the foreign trade market of member countries?

RCEP was finally signed after more than 8 years of negotiations. These agreements have important significance not only for member states, but also for the international community. We are not economists, but a Chinese water cup production factory that has been in operation for 18 years, so we can only talk about some personal opinions.

RCEP members are Malaysia, the Philippines, Thailand, Singapore, Brunei, Cambodia, Laos, Myanmar, Vietnam, China, Japan, South Korea, Australia and New Zealand. It is not difficult to see from the member states that, except for China and Japan, which are the world's second largest economy and the third largest economy, most of the other countries are countries with single and weak economic development.

The signing of the agreement can achieve zero tariffs in many member states, whether it is product export or product purchase, which will positively promote the economic output and employment of both parties.

For example, the export of meat products and dairy products in Australia can not only expand product sales, but also reduce the purchase cost of the purchasing country, thereby affecting product market prices, expanding consumption and driving employment.

For example, for some countries that rely on foreign trade purchases to export profits again, through zero tariffs, you can purchase excellent products from China and the profit after the price is lower than the purchase price of non-member countries and then export to other countries.

Dongguan Zhanyi Commodity Technology Co., Ltd. has been established in the market for many years, with advanced technology and perfect management, providing global users with the production and processing of stainless steel water cups, water bottles and plastic water cups and water bottles. Buyers from all over the world are welcome to contact our salespersons to obtain samples, and welcome everyone to visit our factory. We are willing to serve you wholeheartedly.