Maximizing RCEP's potential

MA XUEJING/CHINA DAILY Robust public-private partnerships are key while media and think tanks can direct more resources to help MSMEs fully integrate into the new ecosystems The full implementation of the Regional Comprehensive Economic Partnership agreement by all 15 signatory parties in 2023 marked a key milestone for the establishment of the largest free trade agreement in the world, with a combined GDP of $29 trillion and 2.3 billion people. In 2023, the total trade of ASEAN with other RCEP Parties amounted to $1.2 trillion, contributing 35 percent to total ASEAN trade. Meanwhile, China's trade figures with the other 14 RCEP members also saw robust growth, amounting to approximately $1.8 trillion in 2023, which represents 30 percent of China's total merchandise trade. The collective efforts of all RCEP Parties, including ASEAN and China, as well as the media and think tanks will enable constructive dialogues to support the commitment of the RCEP Parties to build a partnership for growth.