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1、2024 MARITIME SILK ROAD PORT INTERNATIONAL COOPERATION FORUMUpdates on the Regional Comprehensive Economic Partnership(RCEP)AgreementRegional Comprehensive Economic Partnership(RCEP)AgreementKEY FACTSSigned15 November 20202.3 Billion People1 January 2022Effective DatePopulation CoveredGDP CoveredUSD
2、 25.8 trillionForeign Direct Investment(FDI)(about 30%of global GDP)Source:RCEP Agreement enters into force31%of Global FDI InflowsRCEP aims to strengthen economic integration by reducing tariffs,eliminating trade barriers,and simplifying customs procedures to facilitate smoother and more efficient
3、trade across member countries.EconomicIntegrationThe agreement covers a wide range of areas including trade in goods and services,investment,intellectual property,dispute settlement,e-commerce,and economic and technical cooperation.Broad CoverageRCEP is the worlds largest free trade agreement,encomp
4、assing 15 countries in the Asia-Pacific region,including ASEAN members and key partners like China,Japan,South Korea,Australia,and New Zealand.Largest Free Trade AgreementRCEP represents nearly a third of the global population and GDP,providing vast opportunities for businesses to access new markets
5、,promote regional supply chains,and enhance economic growth and development in the region.Significant Market ImpactRegional Comprehensive Economic Partnership(RCEP)AgreementKey Benefits for BusinessesEliminates tariffs on a significant percentage of goods traded between member countries.This reducti
6、on in tariffs makes member countries products more competitive in the RCEP markets and reduces the cost of imported goods,benefiting both exporters and importers.Tariff ReductionsSimplifies customs procedures and trade facilitation measures,making it easier and more efficient for businesses to expor