RCEP will promote the supply chain integration of Northeast Asia

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RCEP will promote the supply chain integration of Northeast Asia

2022-01-28 12:08:58 41 ℃

From January 1, this year, the world's largest free trade agreement is the largest free trade agreement in the world's top ten Member States, Thailand, Vietnam, China, Japan, New Zealand, and Australia. Relationship Agreement "(RCEP) will be officially effective in South Korea on February 1. Malaysia has also completed RCEP approved procedures, which will be officially effective on March 18. RCEP will take effect as a major advancement of regional economic integration in East Asia, which will force regional trade investment growth, promote regional economic recovery, and inject power into the global economic development.

First, highlight the regional economy open cooperation, in line with the global development trend. Quickly complete the RCEP approved procedure, which is the true reflection of major member States to establish a fair, open and beneficial to the multilateral trading system of the region and the world. It is a huge negative impact on the global epidemic of the new crown epidemic. In response to, the common wishes and enthusiastic expectations of international cooperation in all countries are expanded.

RCEP member states with firm performance, issue strong signals against unilateralism, trade protectionism, and support free trade and maintaining multilateral trading systems. Free trade has a strong vitality, trade decoupling, and inverse globalization inversely, inverse globalization, and the era of global development are not in line with global development. The RCEP is connected to the WTO rules, focusing on achieving extensive trade liberalization, achieving effective optimization integration of economic and trade rules in the region, and further playing the role of regional cooperation with regional cooperation to build a global multilateral self-trade framework.

Second, the RCEP inclusive, flexibility and openness are shown. RCEP is more comparable than other free trade agreements. It not only covers traditional issues such as goods trade, dispute resolution, service trade, investment, but also related to new issues such as intellectual property, digital trade, finance, telecommunications, which will be higher than WTO open standards.

The effectiveness of RCEP also complies with the principles of the previous approval, and does not require 15 national legislative bodies to approval, as long as the legislative system of nine countries can take effect, which reflects the unique elasticity of the agreement. RCEP did not take a "one knife" in the negotiation process to request all Member States to carry out unified standards, but care for different development phases and interests, and flexible transitional arrangements for rules. Measuring whether an international rule is fair, advanced and science, not only does it represent the interests of most countries, but also to look at whether it is in a relatively weak country.

Again, the positive effect generated after the effectiveness is huge. RCEP will end the "mature production network, close area trade" in East Asia, and the unbalanced state of "missing integral economy cooperation system arrangements". Overall, after the RCEP entered into force, more than 90% of goods trade will eventually achieve zero tax, which will not only promote the overall economic, trade and investment growth, which will also play a positive promotion for global trade and welfare growth. effect.

The United Nations Trade and Development Conference Estimated the economic effects of RCEP in December last year. It is expected that the trade volume in the region will increase by about $ 42 million and believe that the East Asian region will become a new focus of global trade. " The simulation results of the "RCEP to Regional Economic Impact Assessment Report" issued by the International Trade and Economic Cooperation Research Institute of China, show that RCEP will drive regional exports and imported accumulated increments to $ 85.71 billion and $ 98.7 billion, respectively. Regional investment will increase by 1.47%, and regional economic welfare will increase its accumulation of $ 25.3 billion. The global level, by 2035, RCEP will drive the world's actual GDP and import and export trade to increase by 0.12% and 2.91% from the reference scenario.

In particular, the cumulative rules of origin have enabled regional enterprises to obtain preferential tariffs and lower non-tariff barriers between member states, and can arrange investment and production plans in relatively stable development expectations to reduce supply and demand gaps. The impact, slow down the extent of the fluctuation of commodity prices, enhance the stability of industrial chain, supply chain and value chain in the region, and play the "stabilizer" role in the development of the world's industry chain.

More importantly, RCEP achieved the first self-trade relationship between Sino-Japan and Korea, RCEP enabled Sino-Japanese and Japan, the first time, the Japan and South Korea established the relationship of the self-trade zone. This is a historic breakthrough will help to promote the freedom of China and Japan. Trade negotiations have made substantial progress and are expected to promote trade and supply chain integration in Northeast Asia. From the change of the three economic and trade relations, according to the RCEP Annex I "China's Tariff Commitment Table", 25% of Japanese products directly drop directly to zero-tariffs when the agreement takes effect. China's product proportion of products for Japan will be from the original 8.02% expanded to 86%. At the same time, Japan's exemption ratio of Chinese products will also reach 86%. China and South Korea immediately fell to 38.6% of the number of zero-tariff commodity items, and the total number of commodity items in the final zero tax payment was also 86%. For Japan and South Korea's trade, Japan's export ratio of exports to South Korea will also rise from the original 19% to 92%.