The Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade deal, came into effect for Malaysia from March 18. On the same day, Beijing customs issued the first RCEP Certificate of Origin to Malaysia for the 24 light trucks to be exported by FOTON Motor.
“The entry into force of the RCEP agreement was a landmark event in China’s international strategy. As the economy across the member countries tends to be highly integrated, Asian countries also express their common will to uphold multilateralism and free trade. Tariffs reduction means greater product competitiveness, which will present huge opportunities for domestic and international trade and logistics development.” said Ma Rentao, Vice President of Foton Motor Group in an interview. “As far as Malaysia is concerned, FOTON’s exports to Malaysia are expected to exceed 1,000 units in 2022, and with the implementation of RCEP agreement, we will provide local customers with better logistics solutions, while improving costs and achieving greater market significance.”
Malaysia, as a key market for FOTON Motor in Southeast Asia, is also one of the main battlefields where FOTON Motor had fought hard against Japanese brands. At present, FOTON Motor has taken a lead in VAN and light-duty truck segments for three consecutive years among Chinese brands in Malaysia. FOTON is also the first to introduce automatic heavy-duty truck and have ranked as No. 1 among Chinese brands in this regard. Starting this year, FOTON Motor will break into the mid-to-high-end light truck market mainly dominated by Japanese brands by introducing AUMARK S specifically for the cold chain, logistics and urban delivery sectors.
Up to now, FOTON’s sales volume in Malaysia has increased by 28 percent year on year to 240 units in 2022. With a pretty good start, FOTON Motor will focus on major industry customers to make its business bigger and stronger. For instance, in van segment, FOTON Motor has reached a partnership with LAZADA, the largest e-commerce platform in Southeast Asia, on e-commerce logistics in Malaysia. The two sides jointly launched a WORRY FREE SERVICE to eliminate many of the problems for drivers by providing individualized vehicle purchase consulting and complete after sales service. In addition, FOTON Motor also worked in partnership with DHL, BEST EXPRESS, YUNDA EXPRESS to provide “Last mile” offline logistics transportation solutions, creating a model for other regional logistics customers. On the other hand, FOTON Motor will continue to strengthen the network capacity, and integrate the light truck and VAN service system according to the market conditions to promote the double upgrade of its network coverage and service efficiency.
Over the past 25 years, FOTON Motor has ranked No.1 in exports for the 11th consecutive year owning to its innovative products, constantly expanding range of product portfolio and service improved year by year. As a role model to expand commercial vehicles to global markets, FOTON Motor will take more responsibility and mission to actively promote its global strategy with the support from leading science and technology and opportunities provided by RCEP’s tariff reductions in Southeast Asia.