Source: China Trade News
"It has been nearly half a year since RCEP came into effect. This is half a year of turbulent changes in the world situation and the difficult recovery of the global economy. It is also the time when RCEP's 'circle of friends' has continued to release trade dividends, bringing 'real money' benefits to enterprises in the region and the people of all countries, as well as a Asia-Pacific peace, stability and economic recovery have played a real role in half a year." Li Jie, vice president of the Chinese People's Institute of Foreign Affairs, said at the 2nd RCEP Regional Development Media Think Tank Forum a few days ago.
Ou Boqian, Secretary-General of the China-Japan-Korea Cooperation Secretariat, said that after the RCEP came into effect, trade between member states has increased, and companies have truly felt the convenience and benefits brought by the agreement. For example, in the first quarter of this year, the total value of China's imports and exports to the other 14 RCEP member countries exceeded 2 trillion yuan, a year-on-year increase of 6.9%. Thailand's exports to China, Japan and South Korea increased significantly, and Cambodia's exports to RCEP countries increased by 11% year-on-year. These examples prove that the RCEP dividend has begun to show, and it has gradually become a stabilizer and driving force for the economic recovery and growth of East Asian countries.
Chi Fulin, President of the China (Hainan) Reform and Development Research Institute and President of the Free Trade Port Research Institute with Chinese Characteristics, said that the direct driving force of regional economic cooperation comes from the differentiation of factor endowments and the optimization of allocation, and the superposition of scale advantages and vitality advantages. It will help unleash the huge growth potential of RCEP. Studies have shown that by 2030, the proportion of the global economy of the 15 RCEP countries will increase from the current 30% to 50%; by 2035, the RCEP will drive the overall GDP, exports and imports of the region to accumulate more than the baseline scenario. Up 0.86%, 18.30% and 9.63%.
"The huge spillover effect of RCEP will enhance the trade resilience of the Asia-Pacific and even the world." Li Jie said that the World Bank report believes that by 2035, RCEP can help all member countries to increase the total middle-income population of about 27 million. RCEP member countries share the dividends of globalization through trade ties, so as to gradually narrow the development gap, achieve mutual benefit and win-win results, and jointly contribute to the sustainable recovery and common prosperity of the Asia-Pacific economy in the post-epidemic era.
Specifically, how to make the dividends of RCEP better release? How to promote balanced regional recovery and integrated development after the epidemic? Experts at the meeting generally expressed that it is necessary to deepen open cooperation and jointly improve the level of regional integration.
Xia Deren, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference, said that RCEP adheres to the principle of opening up, and each member state has made a clear commitment to open the market. More than 90% of the trade in goods in the region will eventually achieve zero tariffs, and then solidly promote the opening process of RCEP. to further promote regional development. For example, China is steadily promoting financial opening up. If the internationalization of the RMB takes the lead in RCEP, it will effectively solve the problem of regional currency settlement efficiency and provide a stable financial guarantee for the development of East Asia and Southeast Asia.
Chi Fulin said that at present, RCEP covers major economies in the East Asian production network, and the industrial division of labor in the region is basically formed. From the perspective of regional development trends, to release the growth potential of RCEP and enhance the regional economic competitiveness of RCEP, it is still necessary to optimize the "three chains" in a high level of openness. For example, the coordination role of ASEAN will be played to promote the comprehensive opening of agriculture and manufacturing in the region, and the RCEP rules of origin accumulation will be used to build a closed loop of East Asian industrial and supply chains. According to the actual development situation and comparative advantages of each country, coordinate to promote the opening of service trade in the RCEP region, promote the deep integration of R&D technology and productive services of Japan and South Korea, manufacturing in China, and assembly in ASEAN, and promote the processing and manufacturing in the region to higher added value. links are extended, and the division of labor status of East Asia in the global value chain is improved as a whole. At the same time, the business environment will be optimized in the alignment of intra-regional rules, forming an important foundation for expanding intra-regional investment.
Chi Fulin said that all member states should implement the market opening commitments and rules stipulated in the agreement as soon as possible, and start negotiations on the relevant follow-up clauses of RCEP as soon as possible. For example, carry out the review of Article 4.2 of the rules of origin with RCEP member countries to realize the transition from "origin accumulation" to "full accumulation"; integrate the existing five tariff commitment tables to realize the "country-specific tariff reduction" Transition to "Harmonized Tariff Concessions".
Xia Deren said that the next few years will be the most critical period for advancing RCEP. In the field of cooperation, in addition to traditional trade in goods and services, it is necessary to accelerate the development of RCEP digital trade, implement relevant rules of the digital economy, and increase cooperation in social construction and people-to-people and cultural exchanges. In particular, the experience China has accumulated in anti-poverty in the past few years can be shared with RCEP underdeveloped economies to promote their poverty reduction process.
