The Regional Comprehensive Economic Partnership (RCEP)

This is a victory for multilateralism and free trade. The epidemic has spread all over the world, international trade and investment have shrunk significantly, the supply chain of industrial chain has been blocked, and economic globalization has encountered a counter current, and unilateralism and protectionism have increased. All members of RCEP have made a joint commitment to reduce tariffs, open markets, reduce barriers, and firmly support economic globalization. According to the calculation of international think tank, RCEP is expected to drive a net increase of 519 billion US dollars in exports and 186 billion US dollars in national income annually by 2030. The signing of RCEP fully demonstrates the clear-cut attitude of all Member States against unilateralism and protectionism. The collective voice of supporting free trade and multilateral trade system is like a bright light in the haze and a warm current in the cold wind. It will greatly boost the confidence of all countries in development and inject positive energy into international anti epidemic cooperation and world economic recovery.

Speeding up the construction of high standard global free trade area network

The Regional Comprehensive Economic Partnership (RCEP), initiated by the ten ASEAN countries, invites China, Japan, South Korea, Australia, New Zealand, and India to participate (“10+6″).
“Regional Comprehensive Economic Partnership Agreement” (RCEP), as a trade agreement in the Asia-Pacific region, is bound to produce a huge trade effect. Focusing on the global manufacturing industry, the GTAP model is used to simulate the impact of RCEP on the division of labor in the world manufacturing industry, and it is found that RCEP has a significant impact on the division of labor in the world manufacturing industry. Its completion will further enhance the position of the Asian region in the world; RCEP will not only promote Chinese manufacturing Increasing industrial exports and increasing world market share are also conducive to climbing up the global value chain.
Regional economic integration cooperation led by ASEAN is an organizational form for member states to open markets to each other and implement regional economic integration.
By reducing tariffs and non-tariff barriers, establish a free trade agreement with a unified market of 16 countries
RCEP, a beautiful vision, is also an important part of my country’s international strategy, and we can only wait and see!

Post time: Nov-23-2020