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The Entry Into Force Of RCEP Agreement Will Further Enhance The Value Chain Of China'S Textile And Garment Industry

2021/12/3 13:05:00 0
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RCEP

The implementation of RCEP will have a positive and far-reaching impact on the textile and garment trade and industrial chain pattern between China and Asian countries. Cao Jiachang, President of China Textile Import and Export Chamber of Commerce, believes that the entry into force of RCEP agreement will provide great help to the formation of a new development pattern of China's textile and garment industry with domestic and international circulation as the main body and domestic and international dual circulation promoting each other in the new period.

In recent years, with the deepening of production capacity cooperation between China and neighboring countries, especially ASEAN countries, regional industrial cooperation mode with obvious advantages has been formed among RCEP members.
　　 "On the one hand, with its strong comprehensive competitive strength and stable and complete industrial chain advantages, China maintains nearly 280 billion US dollars of textile and clothing direct export; on the other hand, Chinese enterprises take advantage of ASEAN countries' low cost and labor resource advantages to" overflow "part of the original and new production capacity to these countries, so as to promote the textile and clothing export and employment of ASEAN countries And economic growth has made an important contribution, but also led to the growth of China's yarn, fabric and other intermediate products export to ASEAN, the regional textile and clothing trade liquidity, activity and interdependence significantly increased, which led to the rise of China Centered Asian supply chain, "said Cao Jiachang.

01. Expand the scale of intra regional trade

RCEP has integrated and expanded the "10 + 1" free trade agreements between ASEAN and China, Japan, South Korea and other member countries. It has made high-level opening commitments through a number of measures such as rules of origin, tariff reduction, positive and negative lists, etc. it has provided China's textile and garment enterprises with the expansion of intra regional trade scale, optimization of resource allocation, integration and strengthening of supply chain It is a great opportunity to upgrade the value chain.
The implementation of RCEP will expand the scope of tariff concessions in the original FTA. Some textile and clothing products, including some clothing and bed fabrics exported to Indonesia, some chemical fibers and fabrics exported to the Philippines, clothing and textiles, and some cotton yarn, fabric and chemical fiber products exported to Malaysia, will enjoy tariff concessions beyond the original FTA. RCEP is the first free trade agreement between China and Japan. After the implementation of RCEP, China's textile and garment exports to Japan are most directly and significantly affected. "After RCEP comes into effect, Japan will eventually realize zero tariff on most of China's textile and garment products within 15 years, which will build a positive and predictable policy environment for the long-term development of China Japan Textile and garment trade, stabilize the long-term commitment of Chinese and Japanese enterprises to mutual cooperation, stabilize China's market share in Japan, and promote the long-term development and stability of China Japan bilateral textile and garment trade cooperation It's extremely important and positive, "says Cao.
The textile and garment industry has a long industrial chain, involving a large number of links from fiber planting or manufacturing - spinning - weaving - dyeing and finishing - garment manufacturing. For a long time, affected by labor cost and supply, trade preferential arrangement, cotton quota, procurement strategy and other factors, China and ASEAN countries have formed a supply chain layout and trade investment mode of competition and cooperation. RCEP unified, concise and clear rules of origin will play a very significant role in guiding the trade, investment and supply chain layout of Chinese textile and garment enterprises in ASEAN.
　　 "Among the rules of origin of RCEP, the rules on textile and clothing products are relatively loose. After the implementation of RCEP, enterprises can enjoy tax-free treatment when they import fabrics from China, process them into garments in ASEAN, and then export them to Japan. Originally, subject to the rules of origin of ASEAN Japan and ASEAN Vietnam free trade agreements, they have to make local production, or they can't enjoy it because ASEAN can't produce them Products with tariff free treatment will be able to enjoy Japan's tariff free treatment, which will help ASEAN countries to make full use of China's production advantages of yarn, fabric and other intermediate products to expand their exports to Japan, which will also benefit the export of China's intermediate products to ASEAN countries, "said Cao Jiachang.

02. Deepen the integration and layout of industrial chain

The implementation of RCEP will help to slow down the transfer of China's textile and garment industry chain, and build a China Centered Asian textile and garment supply chain and a unified big market. The unified and transparent investment environment created by RCEP will also help to enhance the trade and investment and industrial cooperation between China's textile and garment industry and RECP countries. RCEP can reduce trade and investment barriers and create a unified big market, which is conducive to China's textile and garment enterprises to optimize the allocation of resources in the region and realize the international layout. Through strengthening industrial division and cooperation among member partners, we will promote the formation of a more reasonable regional industrial chain, supply chain and value chain closed loop, which will benefit all parties in the region, so as to enhance the position of East Asia in the global textile and garment industry competition.
The implementation of RCEP will also play a positive role in China's textile and garment enterprises to take advantage of the low-cost advantages of ASEAN countries, realize complementary advantages, and build a stable industrial chain and efficient supply chain. In terms of product design and development, international marketing network construction, brand going out to sea and development of cross-border e-commerce, RCEP also provides opportunities for Chinese textile and garment enterprises to give full play to their own advantages, explore regional market potential and continuously improve the value chain.
China's textile and garment export enterprises should seize the great development opportunities provided by RCEP and continuously deepen the integration and layout of China's textile and garment industry chain. In this regard, Cao Jiachang believes that China's textile and garment export enterprises should seriously study, understand and use the tariff reduction schedule. Combined with the tariff concession arrangement of RCEP, on the one hand, the import and export trade of related products will be expanded orderly by referring to the schedule of reduction; on the other hand, according to the characteristics of different tariff concession ranges of RCEP member countries, a fine and perfect division of labor system will be established in the region, so as to make full use of the rules of origin of RCEP region to obtain the maximum tariff preference. At the same time, enterprises should pay attention to the analysis and judgment of RCEP agreement rules, and optimize the arrangement of regional industrial chain and supply chain. In the process of international production capacity cooperation and investment layout, it is necessary to fully evaluate the relevant rules of origin and investment of RCEP and other bilateral free trade agreements in the region, select the best and use them, and adjust and layout the industrial chain and value chain in terms of production costs, raw materials, upstream and downstream industries and markets. In addition, enterprises should also pay attention to and study the customs procedures, inspection and quarantine, and technical standards of RCEP Member States, evaluate the existing import and export links and logistics arrangements, optimize the declaration mode, shorten the trade time, simplify the trade process, and fully reduce the trade cost.

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