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在线翻译:
szdaily -> Business -> 
Enterprises embrace opportunities with RCEP taking effect
    2021-11-11  08:53    Shenzhen Daily

SU FEILI, owner of a foreign trade company in Guangxi Zhuang Autonomous Region, was excited when learning that the Regional Comprehensive Economic Partnership (RCEP) agreement, the world’s largest free trade pact, will take effect Jan. 1, 2022.

“After the RCEP agreement goes into effect, small and medium-sized enterprises will be offered more opportunities to take part in regional and global value chains,” said Su at the China International Import Expo (CIIE) held in Shanghai.

Su’s company sells medical equipment to 95 countries and regions worldwide, including RCEP members like Japan, Indonesia and the Philippines.

The RCEP is sure to give more impetus to the business growth of Chinese foreign trade companies, Su said. “Given a huge market and preferential tariffs, we will focus more on trade with the RCEP member countries.”

Many more Chinese companies will benefit from the trade pact. It will not only bring direct “dividends” such as tariff reduction and facilitate investment and trade but help restructure the industrial value chain in East Asia and speed up economic recovery in the post-COVID-19 era.

The RCEP includes 10 ASEAN members, China, Japan, the Republic of Korea (ROK), Australia and New Zealand. The 15 states’ total population, gross domestic product and trade all account for about 30 percent of the world total.

After the RCEP agreement takes full effect, more than 90 percent of merchandise trade in the region will be eventually subject to zero tariffs, including immediate zero tariffs and zero tariffs within 10 years, said Zou Dake, an official with Chengdu Customs.

With RCEP, bilateral cooperation between China and other members will be upgraded to multilateral cooperation.(Xinhua)

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