Completion of preparations for fulfillment of 85% RCEP landing accelerated

  Xinhua News Agency, Beijing, February 3 (Reporter Yu Jiaxin) my country is accelerating the implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP).

The State Council executive meeting held on the 3rd pointed out that my country is ready to implement 85% of the 701 binding obligations involved in the agreement and has made plans for how to seize opportunities and respond to challenges in the next step.

  According to the content of the meeting, at present, relevant departments are speeding up preparations for the agreement to enter into force in China.

The judicial review of the agreement and the formulation of the conversion plan for the tariff reduction commitment table for trade in goods have been completed, the technical preparation for the implementation of the cumulative rules of origin has made substantial progress, and 85% of the 701 binding obligations involved in the agreement are ready to perform.

  The RCEP, which covers approximately one third of the world’s population, was officially signed on November 15, 2020, signifying the birth of the world’s largest free trade zone.

It is reported that the current attitudes of all parties to promote the entry into force of RCEP are very positive. The agreement can be implemented first after 6 ASEAN countries and 3 non-ASEAN countries have approved it.

The Ministry of Commerce stated that RCEP is expected to take effect at the end of this year.

  The meeting proposed that the promotion of RCEP implementation is an important measure to expand opening up and promote reform.

Wang Shouwen, Deputy Minister of Commerce and Deputy Representative for International Trade Negotiations, stated that after the effective implementation of RCEP, it will promote one-third of my country’s trade to achieve zero tariffs, drive the opening of corresponding services and investment, promote trade facilitation and improve the business environment, and It is of great significance for my country to build a new development pattern.

  According to the spirit of the meeting, the next step is to accelerate the reform of the relevant domestic management system in accordance with the rules of origin accumulation, and make relevant technical preparations to ensure that the agreement can be implemented after it becomes effective. At the same time, it should focus on expanding the opening up of manufacturing and service industries. , Make preparations for raising standards and perfecting rules; in addition, it is necessary to increase training on the implementation of the agreement to help enterprises, especially small and micro enterprises, become familiar with the content of the agreement and rules, enhance the sense of urgency for transformation and upgrading, and improve the ability to participate in international cooperation and competition.

  The Ministry of Commerce has previously held RCEP online special training courses to systematically explain the contents of goods trade, rules of origin, customs procedures and trade facilitation.

Wang Shouwen emphasized that RCEP is an opportunity as well as a challenge.

With the reduction of import tariffs and the advantages of imported commodity prices appearing, relevant industries must be fully prepared to develop and grow in the competition. At the same time, governments at all levels must also be good at using trade remedies such as anti-dumping and countervailing measures in the agreement to fully protect our country. Industrial security.