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GENERAL INFORMATION





             REGIONAL COMPREHENSIVE
             ECONOMIC PARTNERSHIP (RCEP)

             The    Regional   Comprehensive    Economic
             Partnership (RCEP) is a FTA that will create the
             world’s largest trading bloc� The 15 Asia-Pacific
             nations, representing nearly a third of the world’s
             gross domestic product, signed the agreement
             on 15 November 2020� The RCEP aims to remove
             tariffs on at least 90% of the goods traded among
             member countries and the gradual elimination
             of tariffs will reconfigure the supply chain in
             the region� China’s complete infrastructure and
             manufacturing strength will enable other countries
             to be incorporated into its “dual circulation” plan�


             Following the implementation of RCEP on 1 January
             2022, the total imports and exports between China
             and RCEP member countries grew by 7�5% and
             reached RMB 12�95 trillion in 2022� The elimination of
             tariffs has benefited import and export businesses
             in China, resulting in an estimated savings of RMB
             1�58 billion for exporting and RMB 1�55 billion for
             importing in 2022� 9


             It is expected that RCEP will promote free trade,
             reinforce industrial and supply chains, eliminate
             tariffs  and open up  services and  investments to
             expedite regional economic recovery from the
             pandemic� The RCEP provides China with a more
             stable and solid strategic connection with Asia-
             Pacific countries�




























             9  https://baijiahao.baidu.com/s?id=1756712701081067432&wfr=spider&for=pc



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