RCEP poised to boost trade, investment in Asia-Pacific
3 years, 1 month ago

RCEP poised to boost trade, investment in Asia-Pacific

China Daily  

By ZHAO RUINAN| China Daily| Updated :2021-11-24 The Regional Comprehensive Economic Partnership will facilitate trade and investment in the Asia-Pacific region, boost post-pandemic economic recovery and set an example for regional and multilateral cooperation, analysts said. The trade deal, which is designed to remove tariffs on about 90 percent of goods, will facilitate trade and investment in the region, especially as it will follow the past two years, a time when the cross-border transit of people and goods has been disrupted due to the COVID-19 pandemic, said Song Qingrun, an associate professor at Beijing Foreign Studies University's School of Asian Studies. Jia Duqiang, an associate researcher at the National Institute of International Strategy of the Chinese Academy of Social Sciences, said the RCEP will greatly enhance regional economic integration and promote social and cultural exchanges among the countries. The free trade deal is a product of globalization and regional integration, which is complementary to other regional trading blocs, such as the United States-Mexico-Canada Agreement and the European Union, the researcher said.

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History of this topic

'New energy trio' next growth engine for Asia-Pacific
1 month, 1 week ago

'New energy trio' next growth engine for Asia-Pacific

China Daily  

MA XUEJING/CHINA DAILY Chinese-made electric vehicles, lithium batteries and solar photovoltaic products, the "new trio", have been praised and marveled worldwide. This means the Asia-Pacific region can use Chinese new energy products to achieve regional low-carbon transition and boost economic growth and technological advancement, as well as reduce the threat posed by climate change. The Chinese mainland, on its part, …

'New energy trio' next growth engine for Asia-Pacific
1 month, 1 week ago

'New energy trio' next growth engine for Asia-Pacific

China Daily  

MA XUEJING/CHINA DAILY Chinese-made electric vehicles, lithium batteries and solar photovoltaic products, the "new trio", have been praised and marveled worldwide. This means the Asia-Pacific region can use Chinese new energy products to achieve regional low-carbon transition and boost economic growth and technological advancement, as well as reduce the threat posed by climate change. The Chinese mainland, on its part, …

India should reconsider its rejection of the RCEP trade bloc
1 month, 1 week ago

India should reconsider its rejection of the RCEP trade bloc

Live Mint  

Five years ago, on a November morning in Bangkok, just on the verge of signing the Regional Comprehensive Economic Partnership agreement, India abruptly walked out of it. India’s RCEP participation should be based on a broad set of metrics—not merely the trade deficit, but also investment inflows, employment creation and participation in new regional value chains. A 2022 assessment by …

RCEP cooperation to continue growing, forum hears
2 months, 4 weeks ago

RCEP cooperation to continue growing, forum hears

China Daily  

MA XUEJING/CHINA DAILY Cooperation among Regional Comprehensive Economic Partnership economies will continue to flourish and create benefits for the people of the region, a forum in South China's Nanning, Guangxi Zhuang autonomous region, opined on Tuesday. RCEP allows the Association of Southeast Asian Nations to progress toward a new level of regional economic integration, laying the foundation for a thriving …

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi
2 months, 4 weeks ago

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi

China Daily  

The RCEP High-Level Dialogue on Economic and Trade Cooperation was held on Monday during the 21st China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region. RCEP allows the Association of Southeast Asian Nations to progress towards a new level of regional economic integration, laying the foundation for a thriving digital economy and expanding opportunities for traders and businesses across ASEAN and …

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi
2 months, 4 weeks ago

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi

China Daily  

The RCEP High-Level Dialogue on Economic and Trade Cooperation was held on Monday during the 21st China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region. RCEP allows the Association of Southeast Asian Nations to progress towards a new level of regional economic integration, laying the foundation for a thriving digital economy and expanding opportunities for traders and businesses across ASEAN and …

More efforts urged to reap RCEP benefits
3 months, 3 weeks ago

More efforts urged to reap RCEP benefits

China Daily  

Dongguan in South China's Guangdong province is a busy port on the Pearl River. Global experts and leaders called for higher utilization rates under the Regional Comprehensive Economic Partnership, or RCEP, and making collective efforts to unleash the full potential of the framework for economic prosperity for all. "ASEAN members have rather low utilization rates of RCEP, which constrains the …

More efforts urged to reap RCEP benefits
3 months, 3 weeks ago

More efforts urged to reap RCEP benefits

China Daily  

Dongguan in South China's Guangdong province is a busy port on the Pearl River. Global experts and leaders called for higher utilization rates under the Regional Comprehensive Economic Partnership, or RCEP, and making collective efforts to unleash the full potential of the framework for economic prosperity for all. "ASEAN members have rather low utilization rates of RCEP, which constrains the …

RCEP for green and sustainable development
4 months, 4 weeks ago

RCEP for green and sustainable development

China Daily  

MA XUEJING/CHINA DAILY The Regional Comprehensive Economic Partnership has 15 Asia-Pacific countries as its members: China, Japan, South Korea, Australia, New Zealand, and the 10 member states of the Association of Southeast Asian Nations, representing more than 30 percent of global GDP and population. For countries such as Indonesia, promoting FDI from Chinese enterprises with green technologies can result in …

RCEP fostering development in Southeast Asia
5 months ago

RCEP fostering development in Southeast Asia

China Daily  

MA XUEJING/CHINA DAILY The Association of Southeast Asian Nations stands at the center of a dynamic economic tapestry in Asia and Oceania. The three countries and ASEAN, with the help of the Regional Comprehensive Economic Partnership agreement, are facilitating the economic development of Southeast Asia through trade, investment, technological innovation, and supply chain integration. China is ASEAN's largest trading partner, …

Expanded horizons
5 months, 1 week ago

Expanded horizons

China Daily  

WANG XIAOYING/CHINA DAILY While the renminbi is being more widely used in China's cross-border payments with Regional Comprehensive Economic Partnership member countries, the US dollar remains the dominant currency used in settlements and payments between other RCEP members, and RCEP cross-border clearing mainly relies on the SWIFT system. First, compared with high-standard free trade agreements, the RCEP needs to strengthen …

Expanded horizons
5 months, 1 week ago

Expanded horizons

China Daily  

WANG XIAOYING/CHINA DAILY While the renminbi is being more widely used in China's cross-border payments with Regional Comprehensive Economic Partnership member countries, the US dollar remains the dominant currency used in settlements and payments between other RCEP members, and RCEP cross-border clearing mainly relies on the SWIFT system. First, compared with high-standard free trade agreements, the RCEP needs to strengthen …

Maximizing RCEP's potential
5 months, 2 weeks ago

Maximizing RCEP's potential

China Daily  

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 …

Appeal of multilateralism and free trade prevails
6 months ago

Appeal of multilateralism and free trade prevails

China Daily  

Vehicles with RCEP written on the body are seen at a port. Chile's application to join the Regional Comprehensive Economic Partnership agreement demonstrates the appeal of the RCEP as the world's largest free trade framework. Against the headwinds of unilateralism and protectionism, multilateral trade mechanisms such as the RCEP have played a prominent role in promoting global economic recovery and …

Appeal of multilateralism and free trade prevails
6 months ago

Appeal of multilateralism and free trade prevails

China Daily  

Vehicles with RCEP written on the body are seen at a port. Chile's application to join the Regional Comprehensive Economic Partnership agreement demonstrates the appeal of the RCEP as the world's largest free trade framework. Against the headwinds of unilateralism and protectionism, multilateral trade mechanisms such as the RCEP have played a prominent role in promoting global economic recovery and …

Building RCEP region into a big market
6 months, 3 weeks ago

Building RCEP region into a big market

China Daily  

JIN DING/CHINA DAILY In the two years since the Regional Comprehensive Economic Partnership agreement came into effect, a new regional cooperation architecture featuring shared dividends and common development has taken preliminary shape. Building the RCEP trade area into a big and high-level regional market will not only help boost regional and global economic growth but also stabilize the global economy …

Shandong gears up for foreign trade growth in 2024
8 months, 1 week ago

Shandong gears up for foreign trade growth in 2024

China Daily  

Shandong achieved robust growth in foreign trade in 2023. Shandong is prioritizing the cultivation of new drivers of foreign trade growth in 2024 in an effort to achieve stable and high-quality foreign trade development and expand opening-up. A raft of new policies has been rolled out this year, focusing on fostering leading enterprises in the supply chain, driving the development …

China-ASEAN industrial cooperation deepens on RCEP
10 months, 2 weeks ago

China-ASEAN industrial cooperation deepens on RCEP

China Daily  

Customs officials inspect durian quality at a port in Pingxiang, Guangxi Zhuang autonomous region, in September. As the world's largest free trade agreement, the RCEP includes 10 ASEAN members, along with China, Japan, South Korea, Australia and New Zealand. According to China's General Administration of Customs, ASEAN remained China's largest trading partner in 2023, with the total trade between the …

Biden administration's restrictive trade initiative fails to gain traction in Asia-Pacific: China Daily editorial
10 months, 2 weeks ago

Biden administration's restrictive trade initiative fails to gain traction in Asia-Pacific: China Daily editorial

China Daily  

Reports that talk over the "Indo-Pacific" Economic Framework for Prosperity have stalled suggest the United States' efforts to use the new economic agreement among 14 Asia-Pacific countries to counter China on the economic front in the region have basically failed. Launched by Washington in May 2022, the Joe Biden administration's first major trade and economic initiative came with much fanfare …

RCEP fuels regional growth amid economic recovery, challenges
11 months, 2 weeks ago

RCEP fuels regional growth amid economic recovery, challenges

China Daily  

A staff member loads packed durians into a truck at a processing facility in Chumphon, Thailand. Two years on, the world's largest free trade pact in terms of population and trade volume, has unleashed tremendous benefits for regional integration in the Asia-Pacific region and powered up economic recovery. The ASEAN remained China's largest trading partner in the first 11 months …

Two countries capitalizing on their complementary industrial structures
1 year ago

Two countries capitalizing on their complementary industrial structures

China Daily  

Customers shop at the ASEAN goods section of the 20th China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region, on Sept 19. Growing trade between the two countries, advantageous tariff rates resulting from free trade agreements, enhanced international capacity cooperation and surging Chinese corporate investment in Vietnam are creating many more opportunities, they said. Amid a global economic slowdown and weakening …

Two countries capitalizing on their complementary industrial structures
1 year ago

Two countries capitalizing on their complementary industrial structures

China Daily  

Customers shop at the ASEAN goods section of the 20th China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region, on Sept 19. Growing trade between the two countries, advantageous tariff rates resulting from free trade agreements, enhanced international capacity cooperation and surging Chinese corporate investment in Vietnam are creating many more opportunities, they said. Amid a global economic slowdown and weakening …

Sri Lanka, Bangladesh mull over joining RCEP bloc
1 year, 2 months ago

Sri Lanka, Bangladesh mull over joining RCEP bloc

The Hindu  

Four years after India walked out of the Regional Comprehensive Economic Partnership agreement, neighbours Sri Lanka and Bangladesh are now considering their chances of membership in the 15-nation trading bloc. Vast potential The Sri Lankan Presidential Secretariat confirmed the government’s application for RCEP membership in an August statement, saying that it recognised “the potential of this vast trade block comprising …

Chinese minister says India free to join RCEP trade bloc
1 year, 3 months ago

Chinese minister says India free to join RCEP trade bloc

Hindustan Times  

India is free to join the Regional Comprehensive Economic Partnership, China's Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing "very fast". The RCEP is the world's largest trade bloc backed by China and groups 15 Asia-Pacific economies, including Australia, Japan, New Zealand and 10 …

RCEP boosts confidence in trade, regional cooperation
1 year, 6 months ago

RCEP boosts confidence in trade, regional cooperation

China Daily  

HEFEI - On June 2, the day the Regional Comprehensive Economic Partnership entered into force in the Philippines, Chizhou Customs in East China's Anhui province issued an RCEP Certificate of Origin for a batch of goods exported to the Southeast Asian country. Yang Jun, chairman of Conch Group Co Ltd, a leader in China's cement industry, said on Friday that …

Chinese manufacturers hail closer economic ties with RCEP countries
1 year, 9 months ago

Chinese manufacturers hail closer economic ties with RCEP countries

China Daily  

Vehicles with RCEP written on the body are seen at a port. Situated in South China's Guangxi Zhuang autonomous region, which faces RCEP economies in Southeast Asia, the company has achieved a string of breakthroughs in overseas markets this year, riding the wave of China's economic recovery and booming China-RCEP cooperation. Our sales network in the region is fairly complete," …

Yantai firms reap rewards of RCEP
1 year, 10 months ago

Yantai firms reap rewards of RCEP

China Daily  

Foreign trade businesses in the coastal city of Yantai, East China's Shandong province, are reaping the benefits from the Regional Comprehensive Economic Partnership, which took effect on Jan 1, 2022. Doosan Infracore, a South Korea-invested machinery company in the Yantai Area of Shandong FTZ, received a truck load of imported excavator parts from South Korea, and enjoyed an import tariff …

Trading more within Asia makes economic sense
1 year, 10 months ago

Trading more within Asia makes economic sense

The Hindu  

South Asia should now have a re-look at regional trade across Asia after the warning by the International Monetary Fund on January 31, 2023, that global trade would slow down from 5.4% in 2022 to 2.4% in 2023. A recently published paper in an IMF book, “South Asia’s Path to Resilient Growth”, argues that a strong base exists for South …

RCEP boosts trade growth amid gloomy global outlook
1 year, 10 months ago

RCEP boosts trade growth amid gloomy global outlook

China Daily  

An employee operates a production machine at a workshop of Jiangsu Golden Autumn Elastic Fabrics Co Ltd in Nantong, Jiangsu province, on April 18. "Since the RCEP went into effect on Jan 1, 2022, especially after China recently allowed the importation of a number of Vietnamese agricultural products such as durian, bird's nest, sweet potato and passion fruit, Vietnamese enterprises …

Agreement injects impetus into Asia-Pacific trade
1 year, 11 months ago

Agreement injects impetus into Asia-Pacific trade

China Daily  

While most people were enjoying a good rest to usher in the New Year, warehouses in Guangxi Wuzhou Rixin Plastics Industrial Co Ltd were moving into top gear for a new consignment of exports. The RCEP agreement, which entered into force on Jan 1, 2022, comprises 15 Asia-Pacific countries, including 10 ASEAN member states and five major trading partners — …

Shandong foreign trade benefits from RCEP
1 year, 11 months ago

Shandong foreign trade benefits from RCEP

China Daily  

As the Regional Comprehensive Economic Partnership agreement, or RCEP, has been implemented in more countries, foreign trade companies in Shandong have been leveraging the chance to achieve further development. In 2022, Yantai Longda Foostuffs Co applied for 1,083 RCEP certificates of origin from customs, with the value of export benefits reaching 291 million yuan. Among them, trade made with countries …

Chinese exporters see win-win deals as RCEP takes effect in Indonesia
1 year, 11 months ago

Chinese exporters see win-win deals as RCEP takes effect in Indonesia

China Daily  

Engineering machinery is loaded at Yantai Port, Shandong province, for export to Indonesia. Indonesia's new regulations have specified the procedure of obtaining certificates of origin for goods exported from the Southeast Asian country, as part of implementing the RCEP agreement, said Indonesian Trade Minister Zulkifli Hasan. According to Sun's calculations, the new policy could help his company save more than …

Yantai vows to deepen cooperation with RCEP members
2 years ago

Yantai vows to deepen cooperation with RCEP members

China Daily  

The coastal city of Yantai plans to further enhance cooperation and exchanges with Regional Comprehensive Economic Partnership members, according to statements made at the Conference on International Industrial Cooperation and Exchanges with RCEP 2022, which was held in the city on Nov 25. The conference was held via both online and offline channels, and enterprise representatives from Yantai and RCEP …

​Jinan boosts opening-up under RCEP
2 years ago

​Jinan boosts opening-up under RCEP

China Daily  

Officials discuss advantages of RCEP agreement at a conference in Jinan, Shandong province. Jinan, capital of East China's Shandong province, has boosted opening-up and high-quality development under the Regional Comprehensive Economic Partnership agreement, officials said during a recently held conference in the city. The RCEP, the world's largest free trade deal, covers 10 member states of the Association of Southeast …

China hopes for major ASEAN ties boost
2 years, 3 months ago

China hopes for major ASEAN ties boost

China Daily  

China is willing to vigorously improve the level of economic and trade cooperation with the Association of Southeast Asian Nations and build a closer China-ASEAN community with shared interests, said a senior official during the opening ceremony of the 19th China-ASEAN Expo on Friday in Nanning, Guangxi Zhuang autonomous region. Chinese Vice-Premier Han Zheng, also a member of the Standing …

CAEXPO gathering highlights role of businesses and operators in RCEP yields
2 years, 3 months ago

CAEXPO gathering highlights role of businesses and operators in RCEP yields

China Daily  

By YANG HAN in Hong Kong and ZHANG LI in Nanning | chinadaily.com.cn | Updated: 2022-09-16 21:21 Liu Ning, Party chief of Guangxi Zhuang autonomous region, delivers welcome remarks at the 2nd RCEP Economic and Trade Cooperation Business Summit and Furthering RCEP Implementation Forum on Sept 16. The business community needs to play a bigger role in the Regional Comprehensive …

Relations with MNCs being enhanced under RCEP
2 years, 5 months ago

Relations with MNCs being enhanced under RCEP

China Daily  

As a window for China's opening-up, the coastal city of Qingdao in Shandong province is participating in international economic and trade cooperation. Accounting for roughly 30 percent of the world's population, GDP and trade, RCEP countries create the world's largest free trade bloc by economic size, making it the biggest driver of global economic growth. Lu Zhiyuan, deputy Party secretary …

'Working Together for Common Development'—Plenary session of the CIRD Forum
2 years, 6 months ago

'Working Together for Common Development'—Plenary session of the CIRD Forum

China Daily  

Ong Tee Keat, former minister of transport of Malaysia and currently president of the country's Center for New Inclusive Asia, made a speech at RCEP Media & Think Tank Forum on Sunday. 'Working Together for Common Development'—Plenary session of the CIRD Forum RCEP-- Prospects amid the arising challenges Under the theme of "Working together for common development," this year's RCEP …

India joins Biden’s new trade initiative for Indo-Pacific, negotiations to begin
2 years, 7 months ago

India joins Biden’s new trade initiative for Indo-Pacific, negotiations to begin

The Hindu  

India signalled its readiness to join a new economic initiative led by the United States for the region, as Prime Minister Narendra Modi joined U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida and leaders of 10 countries, who joined virtually, for the launch of the Indo-Pacific Economic Framework for Prosperity in Tokyo on May 23. U.S. officials made it …

RCEP to help upgrade, boost economic growth
2 years, 7 months ago

RCEP to help upgrade, boost economic growth

China Daily  

Workers operate on a production line for export-bound electronic devices at a factory in Pingxiang, Guangxi Zhuang autonomous region. "As Chinese importers face multiple pressures, the RCEP is expected to provide more growth room for the nation's exports through creating new market demand with tariff concessions," said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and …

RCEP trade to benefit recovery of world economy
2 years, 7 months ago

RCEP trade to benefit recovery of world economy

China Daily  

Benjamas Tanvetyanont, consul-general of Thailand in Nanning, Guangxi Zhuang autonomous region, promotes products via livestreaming in Nanning on March 28. As the RCEP is a trade deal between the 10-member Association of Southeast Asian Nations and China, Japan, the Republic of Korea, Australia and New Zealand, they said the pact will reinforce regional trade and investment and help companies, especially …

RCEP trade to benefit recovery of world economy
2 years, 7 months ago

RCEP trade to benefit recovery of world economy

China Daily  

Benjamas Tanvetyanont, consul-general of Thailand in Nanning, Guangxi Zhuang autonomous region, promotes products via livestreaming in Nanning on March 28. As the RCEP is a trade deal between the 10-member Association of Southeast Asian Nations and China, Japan, the Republic of Korea, Australia and New Zealand, they said the pact will reinforce regional trade and investment and help companies, especially …

RCEP helps build regional resilience, boost economic recovery, says Thai commerce official
2 years, 8 months ago

RCEP helps build regional resilience, boost economic recovery, says Thai commerce official

China Daily  

Aerial photo taken on Dec 1, 2021 shows the container terminal in Lianyungang, East China's Jiangsu province. BANGKOK -- The Regional Comprehensive Economic Partnership, which took effect in January, is set to play an important role in building the region's resilience through inclusive and sustainable post-pandemic economic recovery, a Thai commerce official said. RCEP is aimed at creating a new …

Pharmaceutical firms in South China ride RCEP flurry to go global on demand
2 years, 9 months ago

Pharmaceutical firms in South China ride RCEP flurry to go global on demand

China Daily  

Employees pack products at Guilin Pharma in the Guangxi Zhuang autonomous region. Pharmaceutical companies from South China's Guangxi Zhuang autonomous region now plan to go further into global markets after the Regional Comprehensive Economic Partnership agreement came into effect. "As a Customs-certified enterprise, before the implementation of RCEP agreement, Guilin Customs had introduced a favorable policy to us," said the …

Action taken to ensure foreign trade growth
2 years, 9 months ago

Action taken to ensure foreign trade growth

China Daily  

Vehicles are assembled at Cowin Auto's plant in Yibin, Sichuan province, for export to a total of 10 countries and regions. This huge integrated regional market, with closer ties in production, value and supply chains, will see significant growth in goods and services trade and enhanced economic welfare, thanks to a reduction in trade and investment barriers. The trade pact …

Coastal province to ride wave of expansive trade agreement
2 years, 11 months ago

Coastal province to ride wave of expansive trade agreement

China Daily  

RCEP helps Shandong forge stronger links with booming East Asian economies Coastal Shandong province is poised to play a larger role in economic integration with Japan and South Korea by utilizing opportunities offered by the Regional Comprehensive Economic Partnership agreement, which now encompasses China and the two big East Asian economies in the same free trade framework for the first …

RCEP galvanizes Shinan's high-speed development
2 years, 11 months ago

RCEP galvanizes Shinan's high-speed development

China Daily  

With the Regional Comprehensive Economic Partnership or RCEP trading agreement having come into effect on Jan 1, Shinan district – located in Qingdao city in East China's Shandong province – is tapping its potential and moving to create an attractive and quality environment that will galvanize the development of foreign trade, according to local media reports on Jan 13. Fifteen …

World's largest free trade deal boosts confidence of enterprises
2 years, 11 months ago

World's largest free trade deal boosts confidence of enterprises

China Daily  

BEIJING -- Soon after midnight on New Year's Day, a freight train departed from South China's Guangxi Zhuang autonomous region for Vietnam, a member country of the Regional Comprehensive Economic Partnership. The RCEP -- the world's largest free trade deal -- came into force on Saturday. "The company and overseas partners both benefit a lot from following the trend of …

RCEP comes into effect on first day of 2022
2 years, 11 months ago

RCEP comes into effect on first day of 2022

China Daily  

BEIJING - The Regional Comprehensive Economic Partnership agreement, the world's largest free trade agreement, entered into force on Saturday. After the agreement takes effect, more than 90 percent of merchandise trade among members that have approved the agreement will eventually be subject to zero tariffs. With optimized trade rules among signatories, streamlined procedures and wider opening-up in the sectors of …

Asia looks to China-focused trade bloc for virus recovery
2 years, 11 months ago

Asia looks to China-focused trade bloc for virus recovery

Associated Press  

BANGKOK — Members of a China-centered Asian trade bloc that takes effect Jan. 1 are hoping the initiative, encompassing about a third of world trade and business activity, will help power their recoveries from the pandemic. Beijing is fully prepared for the new trading bloc, having already fulfilled 701 “binding obligations” for RCEP, Chinese vice minister for commerce Ren Hongbin …

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