Lighting Exports,RCEP Already Came Into Effect On January 1,2022

The core content of the RCEP agreement is to reduce the import and export tariffs of related products and parts between the member states, eliminate tariff barriers and non-tariff barriers between member states, and promote higher levels of trade liberalization and investment facilitation among member states. For lighting companies, the entry into force of RCEP will help companies reduce the price of some export products and improve product quality, so as to gain better competitiveness in the market of contracting states.

The signing of RCEP will bring new opportunities for the development of my country's lighting industry. From the perspective of the global sub-regions of LED lighting exports in 2020, the performance of the Asia-Pacific market dominated by emerging economies is significantly better than that of the European and American markets dominated by developed economies. In the Asia-Pacific market, the markets where the RCEP contracting states such as East Asia, Southeast Asia and Oceania are located all performed well. In 2020, the export value of LED lighting products in the regions where the main contracting states of RCEP are located will be about 7.5 billion US dollars, accounting for 21.3% of exports.

Most of LED Manufacturers in China will be benefit from those new policy, to help them to expand more overseas market, for all kinds of lamp like the LED Downlight, LED Panel, LED Batten, LED Ceiling, etc!