RCEP brings benefits to the world economy (Wanghailou)

　　On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) came into effect.

At present and for some time to come, it will be a hot topic in the international public opinion field.

　　This free trade area, which is dominated by Asia-Pacific economies such as China, Japan, New Zealand, Australia, Thailand, Vietnam, Cambodia, Laos, etc., accounts for about 30% of the global total in terms of population, economic volume and total trade volume, which is well-deserved. It is a free trade zone with the largest population, the largest economic and trade scale and the greatest potential for development in the world.

Against the backdrop of many uncertainties in the recovery of the world economy, the implementation of the RCEP came into effect at the right time, bringing benefits to the world economy.

　　For the Asia-Pacific region, the implementation of RCEP will inject new vitality into regional economy and trade.

The Asia-Pacific region has always been an important growth pole of the world economy and took the lead in showing a recovery momentum from the COVID-19 epidemic.

After the implementation of RCEP, the regional economy has ushered in a series of positive effects - the proportion of zero-tariff products between China and ASEAN, Australia, New Zealand and other member states has increased significantly, and more than 90% of the trade in goods will eventually achieve zero-tariff goals; services; The level of trade and investment openness is significantly higher than the original bilateral free trade agreements between member states; intellectual property protection covers a wide range of fields such as copyrights, trademarks, geographical indications, patents, etc.; the shortest customs clearance time for perishable goods is reduced to 6 hours; the "negative list" model Create a more open and convenient investment environment... These policies make trade in goods and services more convenient, industrial and supply chains more integrated, and regional investment more active.

　　For China, the implementation of RCEP is a new milestone in opening up.

The trade volume between China and RCEP member countries accounts for about 1/3 of China's total trade volume.

The implementation of the agreement will effectively hedge the negative impact of the new crown pneumonia epidemic on the economy, boost trade and investment confidence, and inject new impetus into China's economic growth.

According to the "Assessment Report on the Impact of RCEP on Regional Economy" issued by the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, it is estimated that by 2035, RCEP will increase China's real GDP, export and import increments by 0.35%, 7.59% and 10.55% respectively compared with the base case. %, the cumulative increase in exports and imports will reach 315.4 billion US dollars and 306.8 billion US dollars respectively, and economic welfare will increase by 99.6 billion US dollars.

　　The entry into force of RCEP has opened a door to mutual benefit and win-win for all countries.

The business community has keen observations - Song Saran, chairman of the Cambodia Rice Association, said that RCEP will attract more investment and advanced technology to Cambodia's rice processing industry and promote local economic growth.

There is a clear prediction in the political world - Oramon, director of the Trade Negotiation Department of the Ministry of Commerce of Thailand, said that RCEP will provide a very good opportunity for member states to recover after the epidemic.

The academic community is also conducting research - Lu Yaoqun, director of the Institute of Governance and Sustainability at the National University of Singapore Business School, believes that RCEP will reduce the risk of future supply disruptions and the vitality of the region's economy will spread; Giuliano No. Qi predicts that RCEP will promote industrial development on a global scale.

　　The RCEP took effect as scheduled, sending a positive signal to the world.

"It is difficult for those who do it alone to rise, and those who do it all tend to follow." At present, the world is changing in a century and the epidemic of the century is intertwined, unilateralism and protectionism are on the rise, and economic globalization is encountering adverse currents.

If all economies "beggar-thy-neighbor" and "sweep the snow before their door", it will be difficult to cross the "rapid shoal" of the difficult recovery of the world economy.

The correct approach is to open up our minds, 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 resources and elements, and achieve joint development.

In this regard, RCEP has set an example.

　　(The author is a commentator for this newspaper)