RCEP officially signed! Marking the official conclusion of the world's largest free trade agreem
- Author:Selectech
- Release on:2020-11-16
On the 15th, the ten ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand formally signed the RCEP, marking the official conclusion of the world's largest free trade agreement.
RCEP was initiated by the ten ASEAN countries in 2012 and is a regional free trade agreement centered on developing economies. Covering 2.2 billion people, accounting for about 30% of the world's total population, the GDP of 15 member countries in 2019 reached 26 trillion US dollars, accounting for 29.3% of the global economy, and intraregional trade volume was 10.4 trillion US dollars, accounting for global trade total Of 27.4%.
The completion of the RCEP free trade zone means that about one-third of the world's economy will form an integrated market.
Conducive to promoting global economic recovery
RCEP is a modern, comprehensive, high-quality, and mutually beneficial large-scale regional free trade agreement. RCEP will definitely boost the confidence of all parties in economic growth, and it will become an important driving force for economic recovery after the epidemic.
The signing of the agreement will promote trade and investment in the RCEP region, promote the formation of a regional industrial chain and supply chain value chain, and will also promote the recovery of world trade and economic growth from the epidemic;
RCEP adheres to the principles of freedom, openness, and inclusive development, and promotes the formation of a relatively unified and higher-level international economic and trade rule system in the region on the basis of WTO basic principles, which helps maintain the multilateral trading system and promote economic globalization. development of.
Unleash huge market potential
The formation of the RCEP integrated market will release huge market potential and further promote intra-regional trade and investment exchanges.
RCEP was initiated by the ten ASEAN countries in 2012 and is a regional free trade agreement centered on developing economies. Covering 2.2 billion people, accounting for about 30% of the world's total population, the GDP of 15 member countries in 2019 reached 26 trillion US dollars, accounting for 29.3% of the global economy, and intraregional trade volume was 10.4 trillion US dollars, accounting for global trade total Of 27.4%.
The completion of the RCEP free trade zone means that about one-third of the world's economy will form an integrated market.
Conducive to promoting global economic recovery
RCEP is a modern, comprehensive, high-quality, and mutually beneficial large-scale regional free trade agreement. RCEP will definitely boost the confidence of all parties in economic growth, and it will become an important driving force for economic recovery after the epidemic.
The signing of the agreement will promote trade and investment in the RCEP region, promote the formation of a regional industrial chain and supply chain value chain, and will also promote the recovery of world trade and economic growth from the epidemic;
RCEP adheres to the principles of freedom, openness, and inclusive development, and promotes the formation of a relatively unified and higher-level international economic and trade rule system in the region on the basis of WTO basic principles, which helps maintain the multilateral trading system and promote economic globalization. development of.
Unleash huge market potential
The formation of the RCEP integrated market will release huge market potential and further promote intra-regional trade and investment exchanges.
This is great news for our China suppliers.
