Economic Watch: Can RCEP help the world economy recover?

(Focus on CAEXPO) Economic Watch: Can RCEP Help the World Economic Recovery?

　　China News Agency, Nanning, September 18 (Reporter Lin Yanhua and Lin Hao) When the 19th China-ASEAN Expo (referred to as the China-ASEAN Expo) is underway, the "Regional Comprehensive Economic Partnership" (RCEP) will bring China-ASEAN cooperation. What new opportunities will come, and whether the implementation of RCEP can help the world economic recovery and other related issues have become the focus of heated discussions among representatives from all walks of life.

　　Tariff reduction releases regional economic vitality

　　RCEP is a comprehensive, modern, high-quality, mutually beneficial free trade agreement. The purpose of formal signing is to reduce tariff barriers and build a more open, integrated and free market.

According to data provided by the General Administration of Customs of China, in the first seven months of this year, the import and export volume between China and the other 14 RCEP member countries increased by 7.5% year-on-year.

　　In an interview with a reporter from China News Agency, Asongsi Panishan, an associate professor at the Department of Economics at Thammasat University, said that RCEP member countries have cancelled more than 39,000 import tariffs on Thai goods, and the customs clearance time for perishable goods has been reduced to within 6 hours.

After joining the RCEP "Super Circle of Friends", Thailand's foreign trade import and export volume has grown steadily, and the economy has shown signs of recovery.

　　According to Bai Ming, deputy director of the International Market Research Institute of the Chinese Academy of Commerce, RCEP not only brings dividends to the vast number of import and export enterprises and consumers, but also helps regional countries to enhance their comprehensive trade competitiveness and release regional economic vitality.

　　Kim Joo-cheol, director of the Guangzhou Trade Center of the Korea Trade and Investment Promotion Corporation, said that the multilateral e-commerce rules reached by RCEP have promoted the rapid development of the e-commerce industry in member states.

South Korea's exports of synthetic resins, medical equipment, video machine parts, auto parts, cultural and creative products and other products are increasing.

　　Japan and South Korea join in to expand cooperation with Asia-Pacific countries

　　In terms of trade in goods, trade in services, and mutual investment in intellectual property rights, RCEP creatively proposes rules of origin, and encourages enterprises to take advantage of their advantages and participate in the division of labor in the industrial chain and supply chain in the region.

Zhuang Guotu, a Distinguished Professor of Xiamen University and President of the China Association of Southeast Asian Nations, believes that compared with the China-ASEAN Free Trade Area, RCEP has attracted developed countries such as Japan and South Korea to join, expanding cooperation among Asia-Pacific countries, and helping enterprises to strengthen collaboration and optimization. Industrial chain layout.

　　Junichiro Nakazuka, vice-chairman of the Japan Chamber of Commerce in China and general representative of Mitsubishi Corporation East Asia, who has participated in the China-ASEAN Expo many times, said that in terms of cooperation between Japanese and Chinese enterprises, the implementation of RCEP has made it possible for both parties to carry out third-party market cooperation.

"Chinese companies can replicate their digital innovation advantages in Southeast Asia, integrate with Japanese companies' advantages in supply chain management, and combine the demands of local companies in Southeast Asia to cooperate in industries such as non-fossil energy conversion, hydrogen energy utilization, and utilization of power storage equipment to achieve tripartite cooperation. A win-win situation will further promote the stability of the regional value chain.”

　　ASEAN Secretary-General Lin Yuhui called on the business community of RCEP member countries to make full use of RCEP, optimize production layout, achieve economies of scale, and better participate in the division of labor in the global value chain.

　　Boost confidence and help the world economy recover

　　Lei Xiaohua, deputy director of the Institute of Southeast Asian Studies, Guangxi Academy of Social Sciences, said that the entry into force of RCEP is an initiative of the East Asian economic circle to maintain the multilateral trading system. This free trade zone covers more than 3 billion people and accounts for one-third of the world's total GDP. Having a development direction is of special significance for boosting business confidence and stabilizing the global economy.

　　At present, the international landscape is evolving at an accelerated pace, and a new round of technological revolution and industrial transformation is developing rapidly.

Gao Yunlong, vice chairman of the National Committee of the Chinese People's Political Consultative Conference and chairman of the All-China Federation of Industry and Commerce, said that RCEP has effectively stimulated the vitality of intra-regional trade and investment, improved the level of regional industries and value chains, and contributed to the promotion of global free trade.

　　"RCEP is a 'strengthening needle' and is the most powerful 'locomotive' to promote global economic development." Zhang Jianping, director of the Regional Economic Cooperation Research Center of the Chinese Academy of Commerce, believes that although the trend of anti-globalization has brought strong momentum to the world economy However, the cooperation in the global value chain is still getting closer and closer. The economic increment brought by RCEP can not only benefit itself, but also improve the world economic growth expectations.

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