China News Service, Beijing, November 15 (Reporter Zhang Su) After 8 years of negotiations, the "Regional Comprehensive Economic Partnership Agreement" (RCEP) was officially signed on the 15th.

This is regarded as an important milestone in regional economic integration and a new starting point for deepening East Asian regional economic cooperation.

　　RCEP member countries include 10 ASEAN countries and China, Japan, South Korea, Australia, and New Zealand.

The total population, economic volume, and total trade volume of the 15 member states account for about 30% of the global total, forming a free trade zone with the largest participating population, the most diverse membership structure, and the greatest development potential in the world.

　　In an interview with a reporter from China News Service, such as Zhai Kun, director of the ASEAN National Research Center of Peking University, and Chen Fengying, a researcher of the Institute of World Economics of the China Institute of Modern International Relations, said that RCEP's "refinement and success" is commendable and profound.

The data picture shows the Haitian Container Terminal of Xiamen Port.

Photo by China News Agency reporter Wang Dongming

　　At the moment, RCEP has injected a "cardiotonic agent" in the fight against the new coronary pneumonia epidemic.

　　Chinese Assistant Minister of Commerce Li Chenggang said at a media briefing recently that RCEP will boost confidence in regional economic development, strengthen the supply chain of the regional industrial chain, and enhance the ability to cooperate in fighting the epidemic.

“The Asian economy can be described as a rare bright color in the world under the background of the epidemic.” Zhai Kun told our reporter that the trade and investment between China and ASEAN grew against the trend in the first three quarters of this year, and in East Asia, striving to get out of the key node of the epidemic, RCEP reached a “cooperation”. The consensus of "" and the formation of a "gathering" situation is expected to bring more hope and confidence.

　　In the long run, RCEP will inject strong and lasting impetus into global economic growth.

　　According to the agreement, tariff concessions among members are based on the commitment to immediately reduce tariffs to zero and to zero tariffs within ten years.

"By reducing the tariff and non-tariff barriers of member countries, the establishment of a unified market will help optimize the production network, deepen intra-regional trade and support countries in the region to participate in the global value chain." Researcher Ping Ping, Northeast Asia Regional Cooperation Research Center, Tianjin Academy of Social Sciences Liqun explained.

According to calculations by the Asian Development Bank, by 2025, RCEP will generate US$644 billion in revenue worldwide.

　　Regions, RCEP translates regional political determination into rule rulings.

　　Ping Liqun pointed out that this will end East Asia's long-standing imbalance between "mature production networks and close intra-regional trade" and "lack of overall economic cooperation institutional arrangements."

At the same time, as the principle of constructing production networks in the "post-epidemic era" changes from "efficiency" to "efficiency based on safety", RCEP's institutional guarantee will provide the region with a more stable and predictable economic environment.

The data picture shows the aerial photography of the Haikou Xiuying Port Container Terminal.

Photo by China News Agency reporter Luo Yunfei

　　Globally, RCEP has declared the victory of multilateralism and free trade.

　　"Just when people felt that the supply chain was about to be disrupted, globalization was about to reverse, and the world was going to populism and protectionism, RCEP'bucked the trend' and became a light in the gloom." Chen Fengying said, this move also shows peace and harmony. Development remains the theme of the times, and adherence to open cooperation is the only way to achieve mutual benefit and win-win results for all countries.

　　After the RCEP is officially signed, each member country needs to complete their domestic agreement approval procedures before the agreement can take effect.

China has expressed its willingness to work with all parties to implement the agreement, so that the results will benefit regional enterprises and people sooner.

The above-mentioned experts also looked forward to the future of RCEP during the interview.

　　For ASEAN, this will further consolidate its leading position in the process of Asian economic integration.

According to Pingliqun's analysis, the Asian region has formed a structure with ASEAN as the axis and the "ASEAN+1 (2)" Free Trade Agreement (FTA) as the spokes. RCEP is the integration, deepening and expansion of this structure.

Zhai Kun said that the centrality of ASEAN is determined by regional realities. ASEAN will continue to play a leading role in RCEP-related organization coordination and agenda setting.

　　For China, this will further build a new development pattern in which domestic and international cycles are the mainstay and mutual promotion of domestic and international cycles.

Chen Fengying believes that, on the one hand, RCEP will make the dual cycle more virtuous. For example, China may use the "peripheral cycle" and the "Asian cycle" to drive a larger international cycle; on the other hand, China’s active participation in the RCEP negotiation process is also sufficient proof. The new development pattern is by no means a closed domestic cycle, but a more open domestic and international dual cycle.

　　Speaking of other countries, observers expect that the RCEP will have a spillover effect after the signing, which will drive the acceleration of the China-Japan-Korea Free Trade Area.

In addition, India failed to join the agreement due to "important issues that have not yet been resolved."

Participants of the RCEP Leaders Meeting held on the 15th stated that RCEP will remain open to India and welcome India to join as soon as possible.

　　Analyzing specific areas, the official disclosure agreement covers multiple chapters on trade in goods, rules of origin, trade remedies, trade in services, investment, e-commerce, and government procurement.

"RCEP is inclusive." Chen Fengying gave an example. For example, the agreement leaves room for the next phase of promoting digital economy, scientific and technological cooperation and other fields, and the built-in dispute settlement mechanism helps resolve differences in practice.

　　Discussing the cooperation model, Ping Liqun also talked about the inclusiveness of RCEP. The member states, including developed and developing countries, provide a new model for North-South trade.

He said that compared with the new rules dominated by developed countries, RCEP adopted the ASEAN approach and the principle of mutual benefit based on the principle of "taking into account the special circumstances of participating countries while advancing negotiations", such as granting Laos, Myanmar, Cambodia and other least developed countries. Some countries have made arrangements during the transition period so that they can better integrate into regional economic integration.

　　The interviewed experts have noticed that a number of large-scale free trade agreements are currently being negotiated simultaneously on a global scale.

The 27th Asia-Pacific Economic Cooperation (APEC) Informal Leadership Meeting and the 15th G20 Leaders Summit will be held in the near future. Chen Fengying said that RCEP should form a positive interaction with other international economic cooperation platforms. .

　　Zhai Kun reminded that there is both a competitive situation and a certain degree of complementarity between different free trade agreements.

How to coordinate and parallel these free trade agreements requires imagination and coordination.

But in any case, only by practicing multilateralism and safeguarding free trade can we create a better future for East Asia and even mankind.

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