"An 8-inch wire cutter costs just around 5 yuan per unit in China, but when exported to ASEAN countries like Thailand, it can be sold for up to 30 yuan per unit," said a report from the first China Western Hardware and Electromechanical Expo.
As a key event at the expo, the "Second China Western Hardware and Electromechanical Development Strategy Seminar" took place in Rong. Wang Xiaoqi, director of the Institute of Regional Economics at the Provincial Academy of Social Sciences, highlighted that many ASEAN countries have underdeveloped industrial bases, with most of their hardware and electrical products imported from China. He pointed out that the prices of these products in ASEAN markets are often several times higher than in China.
Wang encouraged Sichuan hardware and electromechanical businesses to take advantage of this opportunity and expand their exports to ASEAN as soon as possible. "In the next decade, ASEAN is expected to invest 150 billion U.S. dollars in infrastructure development alone," he added.
He also mentioned that the "China-ASEAN Comprehensive Economic Cooperation Framework Agreement on Goods Trade" came into effect on July 1st, allowing 7,000 types of goods, including hardware and machinery, to enjoy tariff reductions and market access. This has created favorable conditions for western Chinese enterprises to export to ASEAN, reduce import costs for raw materials and equipment from ASEAN, and increase investments in the region while taking part in international industrial relocation.
According to reports, at 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 suppliers. The western region of China has now become one of the largest hardware and electrical industry bases in the country, positioning itself as a strong player in the growing regional trade landscape.
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