Excerpt from Global Tool Industry Cooperation Forum
The global market continues to grow and many enterprises from China, USA, and Europe expand their production by setting up plants in the world. Although the world has been in recovery from the economic crisis starting from 2008, customers’ confidence remains low and the capability to buy is weak. As a result, good reasons must be told to customers for them to buy, which may stimulate the market to be revitalized again. The global hand tool industry must find ways to cooperate. That is, unified standards, tariff exemption, and cooperation of brands.
1. Unified Standards
Customers hope to buy safe products, which can fully satisfy their demands. Accordingly, if standards can be unified internationally, customers can feel safe to buy products with guaranteed quality. Many users pay more attention to the safety and usability of products than the origins, applications, and the respect to brands. Thus, every enterprise from China, USA, and Europe are encouraged to have unified standards, so they can produce high quality tools compliant with any national standard, which is also the way to international trade WTO keeps advocating. International trade can be 100% achieved through the cancelation of any national trade barrier against imports from other countries and the use of internationally unified standards for production in every manufacturer.
2. Tariff Exemption
So far, tariffs for imported products in every country are different and complicated, which directly influences the international trade and is against the purpose of WTO. WTO hopes that every member country can promote free trade. At the present stage, there have been many regional trade associations and free trade zones. In order to establish a real globalized hand tool industry, tariffs are inevitably an issue to be solved carefully. After that, the free trade among international hand tool industries can be achieved.
3. Cooperation of Brands
Every market will face their own challenge. In China, European and U.S. brands do not have a complete understanding of the entire local market. In the U.S., as it is a vast market, local U.S. manufacturers can be thus benefited. In Europe, the market is comprised of many sub-markets, which means different countries manufacture different products and different markets have to face different challenges. Should every country can cooperate with each other to build a open market, not only the market can be further strengthened, but also customers can buy the most suitable tools based on their needs. Such a goal for cooperation demonstrates that the market is global, we should work hard together to build up a unified market in the world.
