"An 8-inch wire cutter costs only around 5 yuan per piece in China, but it can be sold for up to 30 yuan per piece in ASEAN countries like Thailand," said a report from the Wenhui Newsletter.
As one of the highlights of the first China Western Hardware and Electromechanical Expo, the "Second China Western Hardware and Electromechanical Development Strategy Seminar" was held in Rong. Wang Xiaoqi, director of the Institute of Regional Economics at the Provincial Academy of Social Sciences, emphasized that many ASEAN countries have underdeveloped industrial bases, with most hardware and electrical products imported from China. He noted that the prices of these products in ASEAN markets are often several times higher than in China.
Wang encouraged Sichuan’s hardware and electromechanical businesses to take full advantage of this opportunity and expand their exports to ASEAN as soon as possible. “In the next decade, ASEAN is expected to invest over $15 billion in infrastructure development alone,†he added.
He also highlighted the implementation of the China-ASEAN Comprehensive Economic Cooperation Framework Agreement on Goods Trade, which came into effect on July 1st. Under this agreement, 7,000 types of goods, including hardware and mechanical products, are now benefiting from tariff reductions and market liberalization.
"The natural geographic and economic ties between western China and ASEAN provide a significant advantage for local hardware and electrical enterprises," Wang explained. "They can not only expand their exports to ASEAN but also reduce the cost of importing raw materials, parts, and equipment from ASEAN, while increasing investment in the region and taking part in global industrial transfer."
According to reports, during the first China Western Hardware & Electromechanical Expo, representatives from Thailand, Vietnam, Myanmar, and Laos formed purchasing groups and made special trips to Chengdu to meet with Sichuan’s electromechanical companies. The western region has now become one of the largest hardware and electrical manufacturing bases in China, positioning itself as a key player in the growing trade relationship with ASEAN.
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