Anhui Wonderful-wall Color Coating Aluminium Science Technology Co., Ltd.

Summary of RCEP training of Ministry of Commerce

Mar 25 , 2021

At the invitation of Lu 'an Bureau of Commerce & Trade, Cui Chunlan and Gao Le from the Foreign Trade Department of our company participated in the RCEP online broadcast training organized by the Ministry of Commerce from March 22 to 23, 2021.Here is the following report on the training:

1. Regional Comprehensive Economic Partnership Agreement (RCEP) : It is jointly signed by 10 ASEAN countries and 15 Asia-Pacific countries including China, Japan, South Korea, Australia and New Zealand. On March 22, 2021, China has completed the approval of RCEP, which means that the free trade area with the largest population, the largest economic and trade scale and the greatest development potential in the world has officially set sail.

2. Main contents of study: the significance of signing RCEP, knowledge of certificates of origin in various countries, opportunities and challenges of China's textile industry, machinery industry and information industry under RCEP.

3. The signing of RCEP presents both opportunities and challenges to us;Strengthening cooperation and abolishing tariffs among Asia-Pacific countries are conducive to trade cooperation among all countries.We can introduce Japan's advanced technology to promote our industrial upgrading. At the same time, tariffs will be abolished. Some labor-intensive enterprises will also speed up their migration to Southeast Asia and other countries.

4. After the agreement officially comes into force, the Southeast Asian market will become the biggest backyard of our country. We will increase the development of the Southeast Asian market, especially in Malaysia, where 85% of people of Chinese descent are Chinese, who understand Chinese culture and market potential.

5. Specific to our industry: now is the emerging markets southeast Asia market, the large-scale construction is inevitable, we need to also a lot of building materials, so we must run the market of southeast Asia, more after the outbreak, we must go to run the market, we are very close to southeast Asia, culture is interlinked, communication up obstacles natural less.Western countries such as Europe and America are not very friendly to us at present, so we must strengthen cooperation with Southeast Asian countries.In the course of cooperation, we must predict the exchange rates of the currencies of Southeast Asian countries in advance to avoid unnecessary losses caused by exchange rate fluctuations

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