On November 15, 2020, the ten ASEAN countries, China, Australia, Japan, South Korea, and New Zealand signed the "Regional Comprehensive Economic Partnership Agreement" (RCEP), and promoted the agreement to come into force on January 1, 2022. The total population, gross domestic product (GDP), and trade in goods of the RCEP region account for about 30% of the world. Just on June 2 this year, RCEP officially came into effect for the Philippines, which marks that RCEP has come into full effect for the 15 signatory countries, and the world's largest free trade zone has entered a new stage of full implementation.
From June 9th to 10th, the 2023 RCEP Local Government and Sister City Cooperation (Huangshan) Forum was held in Huangshan City, Anhui Province. about 500 Chinese and foreign guests gathered together to discuss new opportunities for RCEP cooperation and seek a new future of mutual benefit and win-win.
Exploring the certainty of development in a world full of uncertainties has become the source of confidence in building global economic growth. Guests from all over the world gathered in the beautiful Huangshan Mountain, aiming to promote mutual understanding, business opportunities, friendship and cooperation among local governments of RCEP member states through this forum, and contribute to the deepening of cooperation among RCEP member states and the realization of mutual benefit and win-win results.
During the event, 2 sister city friendship projects, 6 economic and trade cooperation projects, and 5 humanities cooperation projects were signed, involving artificial intelligence and blockchain, cultural tourism, education and medical care and other fields. From economy and trade to industrial chain, to cultural tourism, representatives of participating RCEP member states expressed their expectations for strengthening cooperation.
Set sail: the common market is more prosperous
With the theme of "Regional Cooperation for a Win-Win Future", this forum released a signal for RCEP member states to strengthen regional cooperation and share development opportunities.
"RCEP provides a good opportunity for member states to open their markets and expand their market scope. It can promote economic and trade cooperation among member states and provide support for the establishment of a multi-party trading system." Anna Robin, Advisor to the Secretary-General of ASEAN and Deputy Secretary-General of the ASEAN Economic Community Neo said at the forum.
On the day when RCEP came into effect for the Philippines, the customs officers of Chizhou Customs affiliated to Hefei Customs issued a certificate of origin for the chemical raw materials exported to the Philippines by Anhui Xingxin New Materials Co., Ltd. Tariff reduction and exemption of 28,000 yuan.
"Before exporting to the Philippines and other ASEAN countries, the tariffs were relatively high. Later, under the guidance of Chizhou Customs, I applied for the China-ASEAN Certificate of Origin and enjoyed certain tariff reductions. Now through the issuance of the RCEP Certificate of Origin, the tariffs are further reduced to zero. , which saves the company's overall cost and helps us further expand overseas markets." said Lu Yuxiang, manager of the supply and marketing department of Anhui Xingxin New Materials Co., Ltd.
In addition to the Philippines, this company, which is engaged in the research and development of new material technology and the manufacture of basic chemical raw materials, also has close economic and trade relations with Vietnam, Thailand, South Korea and other RCEP member countries. "The implementation of RCEP has brought us multiple dividends such as tariff reduction and exemption, and improved customs clearance efficiency. Last year, the company's foreign trade volume exceeded US$1.2 million, and it is expected to exceed US$2 million this year." Lu Yuxiang said.
According to statistics from the General Administration of Customs, in 2022, China's imports and exports with the other 14 RCEP members will reach 12.95 trillion yuan, an increase of 7.5%, accounting for 30.8% of China's total foreign trade imports and exports. There are 8 other RCEP member countries whose import and export growth rate with China exceeds double digits.
"I am very happy to see the growth of trade between China and RCEP member countries. For example, in 2022, China's import and export with Indonesia, Singapore, Myanmar, Cambodia and Laos will all increase by more than 20%. These data confirm the economic benefits brought by RCEP. said Gao Jinhong, Secretary-General of ASEAN.
Stable chain and strong chain: the industrial layout is more reasonable
"The RCEP agreement has been in force for more than a year, and the tariff reduction and customs clearance time has been shortened, which has brought real benefits to Japanese consumers. The RCEP agreement can enhance cooperation in the industrial chain, such as the automobile manufacturing industry. A car has many Parts are a huge project that requires the cooperation of all parties. Many parts from China are exported to Japan. After the production in Japan is completed, the cars are then exported to RCEP member countries, including China. Now the customs clearance of goods is faster, which greatly The production efficiency has been improved." Nobu Sasahara, director of the Shanghai Office of the Japan-China Economic Association, told reporters.
According to reports, the Japan-China Economic Association has nearly 300 member companies. Shinobu Sasahara said that these companies are very concerned about RCEP-related policies and are considering how to better lay out their respective industrial chains in the region.
