RCEP importance is increasingly prominent

The "Regional Comprehensive Economic Partnership Agreement" (RCEP) officially took effect on January 1, 2022. The world's largest population, the largest economic and trade scale and development potential of the free trade zone have since been born, which has greatly promoted the economic development of East Asia in East Asia. Essence On August 2nd, the official website of the Institute of International Institute of International International Issues published an article by Kazushi Shimizu, a professor at the School of Economics, Japan, saying that RCEP will bring considerable economic benefits to East Asia, especially in the world economy full of challenges at the moment The important role of RCEP is even more prominent.

RCEP was initially proposed by the Southeast Asian National Alliance ("ASEAN") in 2011, and has experienced a slow negotiation process since then. In 2020, in the context of complex backgrounds such as new crown pneumonia, 10 ASEAN countries, China, Japan, South Korea, Australia, and New Zealand, a total of 15 Asia -Pacific countries officially signed the agreement. Kiyomizuki said that RCEP member states account for about 30%of global GDP, population and trade scale, and will bring huge economic benefits to East Asia. Specifically, it stimulates goods and services and investment in East Asia, thereby promoting the sustainable development of the region's economy; helping to establish new and more complete rules; promoting East Asia to establish a production network or supply chain; narrowing in developed countries in the region The economic development gap between the developed home.

RCEP is also of great significance to Japan's development. The agreement accounts for half of Japan's trade volume and is compatible with the production network of Japanese companies. In addition, RCEP, as the first free trade agreement between Japan and China and Japan and South Korea, has canceled many tariffs between Japan and China and Japan and South Korea. The overall tariff cancellation rate of RCEP member states will eventually reach 91%. The rules of origin of the agreement are more flexible and easier to use corporate use than the previous "ASEAN +1" free trade agreement.

Of course, the cancellation of some commodity tariffs is not achieved overnight, and the rules in some areas have not yet reached an agreement. The member states must gradually improve the relevant terms. Shimizu and Zhi believe that in order to promote the landing of RCEP, member states must further promote trade liberalization and increase tariff cancellation rate. At the same time, they also need to listen to the opinions of RCEP users. Today's world economy is facing many challenges, and RCEP will promote economic development in East Asia and other parts of the world.

Source: China Social Science Network-Journal of Social Sciences of China

Author: Wang Junmei/Compilation

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