Regional economic integration ushered in another major milestone. On June 2, 2023, the "Regional Comprehensive Economic Partnership Agreement" (RCEP) officially entered into force for the Philippines, marking the full entry into force of RCEP for the 10 ASEAN countries and 15 signatories including Australia, China, Japan, South Korea, and New Zealand.
Since RCEP came into effect on January 1, 2022, the free trade area with the largest population, largest economic and trade scale and the most development potential in the world has entered a new stage of full implementation, and all member states have also benefited from it. For example, information released by the Cambodian Ministry of Commerce this year shows that in 2022, the trade volume between Cambodia and other RCEP member countries will reach US$31 billion, a year-on-year increase of 4%.
Benefiting from the preferential tariffs, simplification of customs clearance, and facilitation of trade and investment released by RCEP, the majority of enterprises in our country have also enjoyed real dividends. RCEP is superimposed on the bilateral free trade agreements that have taken effect between my country and other RCEP members, creating good conditions for enterprises to enjoy better benefits and helping enterprises reduce trade costs. The data shows that in 2022, Chinese enterprises will enjoy export value of 235.3 billion yuan under RCEP, and can enjoy tariff reduction of 1.58 billion yuan from the importing country; enjoy import value of 65.3 billion yuan, and tax reduction of 1.55 billion yuan.
These real dividends come from my country's determination and actions to further open up to the outside world, and also from the joint efforts of member states. China will adhere to the basic national policy of opening up to the outside world, firmly pursue a mutually beneficial and win-win opening strategy, and continue to provide new opportunities for the world with China's new development.
As the world's largest developing country, China's influence in the Asia-Pacific region and even the world has continued to increase, and it has gradually become an important force in promoting regional economic integration.
The implementation of RCEP has promoted the growth of trade between China and member countries. According to data recently released by the General Administration of Customs, in the first quarter of 2023, my country’s imports and exports to other RCEP member countries totaled 3.08 trillion yuan, a year-on-year increase of 7.3%, accounting for 31.2% of my country’s total foreign trade value during the same period, and the proportion increased by 0.8 compared with the same period last year. percentage point. Among them, my country's imports and exports to other RCEP member states increased by more than 10%, and the imports and exports to Singapore, Laos, and Myanmar all increased by more than 20%, reaching 45.8%, 37.8%, and 29% respectively. The scale of imports and exports to Japan and South Korea ranks first and second respectively between my country and other RCEP member countries, with a scale of more than 500 billion yuan.
At present, the development of the world economy still faces many uncertainties, and innovation and development and win-win cooperation are the inevitable choices of all countries. The full entry into force of RCEP fully reflects the determination of the 15 parties to take practical actions to support an open, free, fair, inclusive and rules-based multilateral trading system, and to continuously promote a comprehensive, mutually beneficial and high-level economic partnership. To move towards a higher level and higher quality.
It is easy for everyone to do it. As countries continue to promote the free flow of production factors such as raw materials, products, technologies, talents, capital, information and data in the region, a more prosperous regional integrated market will set sail. Through wider and deeper openness and cooperation, RCEP will promote the steady development of Asian regional economic integration and make greater contributions to regional economic growth and global economic and trade development.
