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Original title: See China | From 5 “10 + 1” to 1 “10 + 5”: RCEP helps China-ASEAN cooperation
Guide
RCEP will provide a more open and prosperous regional market for Chinese and ASEAN companies, promote a mutually beneficial and win-win industrial chain supply chain partnership, and help build a closer and more inclusive China-ASEAN community of shared future. The RCEP is also expected to attract new members in the future, promote the formation of a higher level and broader scope of regional economic integration, and provide a broader stage for China and ASEAN to lead the new era of regional economic cooperation.
In late 2020, having withstood the ordeal of the new corona pneumonia epidemic and the global economic downturn, China and ASEAN have watched and helped each other, not only ushering in the 10th anniversary of the end of the China-ASEAN Free Trade Area, but also ushering in the “Regional Comprehensive Economic Partnership Agreement” (RCEP). ) Signed successfully. The RCEP was initiated by ASEAN and invited China, Japan, South Korea, Australia, New Zealand and other dialogue partner countries to participate. The negotiation was based on the 5 free trade agreements “10 + 1” (ASEAN + 1) concluded by ASEAN as the basis for integration. Its success The signing will provide new impetus and support to China and ASEAN to deepen cooperation and build a community with a shared future in the post-epidemic era.
Image source:China Daily
RCEP will provide a more open and prosperous regional market for Chinese and ASEAN companies.
The signing of the RCEP marks the birth of the world’s largest free trade zone. It also means the formation of a regional market with 15 members in the Asia Pacific region, a total population of 2.27 billion, a GDP of US $ 26 trillion, and a trade volume of US $ 10.4 trillion. The agreement reduces tariff and non-tariff barriers between member countries and expands access to services and investment markets. Not only does it support the formation of a broader and more open integrated market, but it also supports the growth of regional trade and investment and fuels the economic growth of several countries. To create a more prosperous and dynamic regional market.
The signing of the RCEP agreement fully demonstrates the strong will of China, ASEAN and other members to broaden openness and deepen cooperation, and fully affirm the development potential of this regional market. According to the UNCTAD forecast, by 2025, the RCEP will increase the exports of member economies by more than 10%; By 2030, it will contribute 0.2 percentage points to regional economic growth.
Affected by the current epidemic, under the slow economic situation in Europe and the United States and the slow recovery of the market, the RCEP region has formed new points of market demand and economic growth with the help of the free trade agreement, and will become in a “safe haven” and “stabilizer”.In particular, China, as the largest market among RCEP members, will seize this opportunity to further promote high-level openness, actively break down barriers in the integration of domestic and foreign markets, better connect domestic and foreign markets. and factor resources, and perform national and international markets. Business cycles promote mutual development, which will also help ASEAN and Chinese companies share a more open market development space.
Image source:Eastern IC
RCEP will promote China and ASEAN to form a mutually beneficial and mutually beneficial industrial chain and supply chain association.
Relying on the construction of the China-ASEAN Free Trade Area, China and ASEAN have established close trade and investment relations. Bilateral economic and trade cooperation is changing day by day. Each other has become each other’s most important trading partners, with two-way investments exceeding US $ 240 billion At the same time, China and ASEAN, as well as RCEP members such as Japan and Korea from the South, they are also important parts of the East Asian production network. However, free trade agreement links between China, Japan, Japan and South Korea are missing. Although there are free trade agreements between other members, there are also “fragments”. 化 “characteristic.Based on the integration of bilateral free trade agreements between the members, the RCEP agreement further formulated regionally unified open and transparent trade and investment rules, allowing the components of the value of the origin of the product to accumulate in the region and optimizing industries for Chinese and ASEAN companies in the RCEP region. Chain and supply chain design offers new options.
Chinese and ASEAN companies can make full use of the preferential policies of the RCEP agreement, according to the principle of optimal resource allocation, to buy, produce and sell raw materials flexibly in the 15 member regions, which does not It will only help reduce the total cost of the company, improve international competitiveness, but also promote the formation of closer regional associations of industrial chains and supply chains.
Image source:Xinhua News Agency
RCEP will help build a closer and more inclusive China-ASEAN community with a shared future.
The trade and investment liberalization and facilitation agreements under the RCEP will not only further enhance the level of interconnection between China and ASEAN and deepen the degree of economic and industrial integration between China and ASEAN, but will also enable building a closer and more inclusive community with a shared future between China and ASEAN. New cooperation platform.
After the signing of the RCEP agreement, the growth of regional trade and investment will further promote personnel exchanges between China and ASEAN. Simultaneously,The agreement on facilitation measures for the cross-border movement of natural persons and the expansion and opening of the services investment market also provides a new development space for China and ASEAN to deepen cultural cooperation and improve communication and understanding.. In particular, with the aim of promoting common development, the RCEP provides special preferential treatment to underdeveloped ASEAN members such as Cambodia, Laos and Myanmar, helping them improve their ability to meet the highest level of requirements for openness of free trade agreements and use the free trade agreement for them. It has benefited from the support provided and has also formulated a wide range of areas of cooperation for SMEs to promote their benefits from RCEP.
In the future, China will also fully meet its commitments and obligations to underdeveloped ASEAN members and small and medium-sized enterprises under the RCEP, and actively carry out capacity development and economic and technological cooperation to help ASEAN to transform into a digital economy and close the development gap caused by the new technological revolution. This will lay a deeper foundation for China-ASEAN cooperation to build a community of shared future.
Image source:Xinhua News Agency
China strongly supports ASEAN’s central position in RCEP and at the same time played an active role in promoting it. It has communicated and coordinated closely with ASEAN and other members, and pragmatically resolved the negotiating differences, which played an important role in the final signing of the agreement. In the future, China and ASEAN should also continue to strengthen cooperation, promote jointly the entry into force and implementation of the agreement, and further release the initial dividends of the China-ASEAN Free Trade Area Improvement Agreement and the RCEP Agreement, and provide for the common development of the region and the building of a Chinese community -ASEAN with a shared future.Power supplyspring.
Of particular concern is thatThe signing of the RCEP expands the cooperation space between China and ASEAN from “10 + 1” to the area “10 + 5”. With the effective implementation of the RCEP and the addition of new members, it is expected to expand further to “10 + N” in the future. Regions, and promote the formation of a higher and broader regional economic integrationThis will provide a broader stage for China and ASEAN to once again lead the new era of regional economic cooperation.
Image source:China Daily
* Title of the English version of this article为 “From 10 + 1 to 10 + 5”
Editor | Liu Xia
Edit | Zhang Zhao
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