Regional Comprehensive Economic Partnership(RCEP) came into force on January 1st, 2022. At present and in the future, it will be a hot topic in the field of international public opinion.
This free trade area, dominated by Asia Pacific economies such as China, Japan, New Zealand, Australia, Thailand, Vietnam, Cambodia and Laos, accounts for about 30% of the global total in terms of population, economic volume and total trade. It is worthy of being a free trade area with the largest population, the largest economic and trade scale and the most development potential in the world. Under the background of many uncertainties in the world economic recovery, the entry into force and implementation of RCEP coincides with the time, bringing benefits to the global economy.
For the Asia Pacific region, the entry into force and implementation of RCEP will inject new vitality into regional economy and trade. Novel coronavirus pneumonia has been the first to be revival in the Asia Pacific region. After RCEP came into force, the regional economy has ushered in a series of positive results - the proportion of zero tariff products between China and ASEAN, Australia, New Zealand and other member countries has increased significantly, and is moving towards the goal of zero tariff for more than 90% of goods trade; The openness of trade in services and investment is significantly higher than the original bilateral free trade agreements among member states; Intellectual property protection covers copyright, trademark, geographical indication, patent and other fields; The customs clearance time of perishable goods shall be reduced to 6 hours at least; The "negative list" model creates a more open and convenient investment environment... These policies make the trade in goods and services more convenient, the industrial chain and supply chain more integrated, and the regional investment more active.
For China, the entry into force and implementation of RCEP is a new milestone in opening to the outside world. The trade volume between China and RCEP member countries accounts for about 1 / 3 of China's total trade. China's novel coronavirus pneumonia will effectively hedge the negative impact of the new crown pneumonia epidemic, boost trade and investment confidence, and inject new impetus to China's economic growth. According to the evaluation report on the impact of RCEP on regional economy issued by the Institute of international trade and economic cooperation of the Ministry of Commerce, by 2035, RCEP will increase China's real GDP, export and import by 0.35%, 7.59% and 10.55% respectively compared with the benchmark situation, the cumulative increment of export and import will reach US $315.4 billion and US $306.8 billion respectively, and the economic welfare will increase by US $99.6 billion.
The entry into force and implementation of RCEP has opened a door for mutual benefit and win-win for all countries. The business community has a keen observation - Sonsaran, President of the Cambodian rice Association, said that RCEP will attract more investment and advanced technology for the Cambodian rice processing industry and promote local economic growth. Political circles have a clear prediction - olamon, director of the trade negotiation Department of the Ministry of Commerce of Thailand, said that RCEP will provide a very good opportunity for member countries to recover from the epidemic. Academic circles are also conducting research - Lu Yaoqun, director of the Institute of governance and sustainable development, School of business, National University of Singapore, believes that RCEP will reduce the risk of future supply interruption and the vitality of the region's economy will spread; Giuliano nocci, a professor at Milan Polytechnic University in Italy, predicts that RCEP will promote global industrial development.
RCEP came into force as scheduled, sending a positive signal to the world. "It is difficult for those who lift alone to rise, and it is easy for others to follow." At present, changes in the world over the past century and the epidemic situation in the century are intertwined, unilateralism and protectionism are on the rise, and economic globalization is encountering a countercurrent. If economies "beggar their neighbors" and "sweep the snow in front of their own doors", it will be difficult to cross the "torrent and dangerous Beach" of the difficult recovery of the world economy. The correct approach is to open up, grasp the general trend, go hand in hand, actively expand opening-up, promote trade and investment liberalization and facilitation, maintain the stability and smoothness of the industrial chain and supply chain, promote the orderly flow of resource factors and realize linkage development. In this regard, RCEP has made a demonstration.