China News Service, Xiamen, September 8 (Zheng Jiangluo) On the 8th, the 21st China International Investment and Trade Fair was launched in Xiamen. One of the supporting activities-Regional Comprehensive Economic Partnership (RCEP) New Investment Opportunity Seminar Day Held at the same time in Xiamen.

  "The total trade volume between China and RCEP member countries accounts for about one-third of China's total foreign trade. It comes from the actual investment of RCEP members and accounts for more than 10% of China's actual use of foreign capital." Ma Xiuhong, president of the China Council for the Promotion of International Investment, said that RCEP covers This accounts for 47% of the global population, 32% of global GDP, 29% of global trade and 32% of global investment.

"It is a free trade zone with the largest population, the most diverse cooperation and the greatest development potential in the world, and an important engine for the recovery and development of the world economy."

  The Regional Comprehensive Economic Partnership Agreement (RCEP) is the largest and most important free trade agreement negotiation in the Asia-Pacific region.

Initiated by ASEAN in 2012, it lasted 8 years and was an agreement drawn up by 15 members including China, Japan, South Korea, Australia, New Zealand and the ten ASEAN countries.

On November 15, 2020, the 10 ASEAN countries and 15 Asia-Pacific countries including China, Japan, South Korea, Australia, and New Zealand formally signed the Regional Comprehensive Economic Partnership Agreement.

  Ma Xiuhong pointed out that China and RCEP member countries are highly complementary in economy and have a wide range of cooperation areas. RCEP member countries are China's important economic and trade partners, among which the ten ASEAN countries are China's largest trading partners.

"China, RCEP member states and the industry should work together to complement each other's strengths and seize the opportunities brought by the RCEP agreement."

  The ambassador of the Republic of the Philippines to China Jose Santiago San Romana stated that the Philippines’ GDP in the second quarter of this year increased by 11.8% compared to the first quarter, and the outside world still maintains a positive view of the Philippines’ economic status.

It is hoped that the RCEP agreement will strengthen the flow of trade and investment, and the integration of the supply chain.

  Chen Ning, the second-level inspector of the Department of International Economic and Trade Relations of the Ministry of Commerce, said that the new crown pneumonia epidemic has repeated, the world economic recovery is fragile, and the process of globalization has encountered a countercurrent. In this context, the member states of the RCEP agreement have jointly pledged to reduce tariffs. Opening the market, reducing profits, demonstrating a clear attitude of opposing unilateralism and protectionism, and firmly supporting free trade and the multilateral trading system, has greatly boosted the confidence of all parties in economic growth, and contributed to international cooperation in the fight against the epidemic and the recovery of the world economy. Infused with positive energy.

  Zhao Jinping, chief economist of the National Research Institute think tank, delivered a keynote speech on "The Role of RECP in Improving the Regional Investment and Trade Environment".

He said that East Asia is one of the world's most important commodity manufacturing and cross-border trade centers. From 2017 to 2020, the trade dependence among East Asian members has further increased. "Compared with 2017, the global trade volume in 2020 has dropped by 1.1%. , East Asia’s exports and imports to the world increased by 13.9% and 6.6% respectively. Compared with the general decline in major economies, the performance was particularly outstanding. Among them, China’s exports to ASEAN and ASEAN’s exports to the United States both achieved growth of more than 35%. "

  Zhao Jinping further pointed out that intra-regional trade has become the main influencing factor for stabilizing and promoting the growth of East Asian trade, and the expansion of mutual investment provides strong support for the adjustment of the East Asian regional industrial chain supply chain.

"Next, we should strengthen East Asian industrial chain cooperation and accelerate the construction of the East Asian regional economic integration system." (End)

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