It has been one year since the Regional Comprehensive Economic Partnership Agreement (RCEP) came into force. Over the past year, this free trade zone with the largest population, the most diverse membership structure and the greatest development potential in the world has added new vitality to regional economic cooperation, and is full of vitality under the overall gloomy picture of the world economy. As an important participant in regional economic cooperation, China implements RCEP with high quality, works with all parties to promote regional economic integration, brings new opportunities to the world with its own new development, and boosts the regional economy to move forward against the wind.
The entry into force of RCEP has effectively promoted economic and trade cooperation among member states and regional economic integration. Over the past year, the dividends of the RCEP system such as tariff reductions, cumulative rules of origin, and trade facilitation have been released, bringing real growth and benefits to member states and their companies, promoting new trade and investment opportunities, and maintaining regional supply chains stability, injecting strong impetus into economic recovery. Zhang Jinxiong, Chairman of the Indonesian Chinese Entrepreneur Association, said that RCEP integrates funds, resources, professional technology and services to form a complete cycle and ecology of regional economic cooperation. In the uncertain world development pattern, RCEP provides stability and order, and will be able to promote the continuous development of the regional economy in the future.
The entry into force of RCEP allows partners to more fully share the opportunities and development dividends of China's opening up. In the first 11 months of 2022, the total import and export volume between my country and other RCEP member countries was 11.8 trillion yuan, a year-on-year increase of 7.9%, which continued to demonstrate the advantages of RCEP regional trade liberalization. Driven by the reduction in import costs and the increase in export opportunities brought about by RCEP, the "fruit train" carrying agricultural products from ASEAN countries such as Laos and Thailand sailed to the vast Chinese market along the China-Laos Railway. In the first 11 months of 2022, China's import and export to ASEAN will increase by 15.5% year-on-year, which is higher than the overall growth rate of China's foreign trade. With the in-depth implementation of RCEP, its role in promoting intra-regional trade and investment will continue to emerge.
The entry into force of RCEP and the "Belt and Road" initiative drive the coordinated development of the regional economy. At present, most RCEP member countries have joined in the joint construction of the "Belt and Road" cooperation. Practice has proved that the joint construction of the "Belt and Road" has deepened the economic and trade cooperation among RCEP member countries, strengthened the concept of common development, and laid a good foundation for the successful signing and implementation of RCEP. In the future, RCEP, which has the ability to integrate trade and investment, and the "Belt and Road" initiative, which is open and shared, will complement each other and promote each other. They will fully release the synergy effect of regional common development, achieve a higher level of opening up to my country, and promote a strong economic recovery in the region. have a positive and far-reaching impact.
At present, countries in the region have entered a critical stage of economic recovery, and some countries are facing difficulties such as supply chain disorder, food and energy shortages, and rising inflationary pressures. Whether it is to deal with the current downward pressure on the economy or to focus on the long-term development of the future, it is necessary to deepen regional economic cooperation. The key is to make full use of RCEP's market opening commitments and rules to release the dividends of the agreement to a greater extent. China's Ministry of Commerce recently stated that in the next step, it will continue to work with relevant departments to promote the high-quality implementation of RCEP and other free trade agreements, guide localities, industries and enterprises to make good use of the agreements, and continuously improve the comprehensive utilization efficiency of free trade agreements.
High-quality implementation of RCEP, expansion of the comprehensive pilot program of service industry expansion and expansion, and active promotion of joining the "Comprehensive and Progressive Trans-Pacific Partnership Agreement" and "Digital Economic Partnership Agreement"... China is currently steadily expanding rules, regulations, management, and standards and other institutional opening-up, and promote the formation of a new higher-level open economic system. In 2023, China will consider hosting the third "Belt and Road" International Cooperation Summit Forum, injecting new impetus into the development and prosperity of the Asia-Pacific and the world. Cai Weicai, senior vice president of Thailand's Kaitai Bank, believes that as the world's second largest economy, China has played an important role in promoting multilateralism and free trade. All countries in the world, especially developing countries, share the dividends brought about by China's economic growth, and China has made important contributions to the recovery of the world economy.
China advocates true multilateralism, practices open regionalism, and is committed to bringing stable expectations to the world economy. In the new year, China will continue to demonstrate its responsibility as a major country, promote the construction of an open world economy, and hold high the banner of development and cooperation against the background of division, confrontation, and anti-globalization stirring the world, bringing new opportunities for development to the world, and promoting the recovery of the world economy. Inject new impetus.
