RCEP for the "Regional Comprehensive Economic Partnership Agreement" for short, it is initiated by the 10 ASEAN countries in 2012, there are 15 parties *** with the agreement, and now the 15 RCEP member countries, the Minister of Economy and Trade will be in the ceremony to officially sign the "Regional Comprehensive Economic Partnership Agreement". Marking another step into a new trade journey for our country, it also marks the establishment of the world's largest FTA covering a population of 2.2 billion, with a total GDP of $25.6 trillion and intra-regional trade of $10.4 trillion.
RCEP contains 20 chapters including the characteristics of the FTA, goods, services trade and other related entry guidelines, covering a variety of aspects, mainly reflected in the goods trade opening level of more than 90%, tariff concessions up to zero tariffs; and investment liberalization.
For the country, China, with the recent development, in the global production of products occupy an important position, the signing of the RCEP, for import and export trade as well as investment will be benefited point in particular, the chemical industry, the domestic traditional chemical industry, overcapacity, but the high-precision chemicals but rely on imported resources, and Japan and South Korea are the main countries in China's imports of high-end chemical materials, with the tariffs of the With the reduction of tariffs, the output of domestic products is favorable, but also reduces the cost of high-tech industries to buy. And the tariffs will take a long time to reduce, which is also conducive to the exchange between China and other countries.
For domestic producers, there are advantages and disadvantages, can increase sales, reduce costs, and after the formation of a unified regional rules, can reduce business risks. But the loss of trade barriers to protect, foreign enterprises to enter the threshold is lowered, also means a more intense market competition, some companies are bound to need to improve, and even in such an environment, do not think of change, will inevitably be eliminated.
For our general public, you may find shopping cheaper, especially Southeast Asian fruits, Japan and South Korea products, these things to lower tariffs into our country, the cost is low, sales are bound to decrease. Travel is more convenient, 15 countries between the free movement of people, travel to neighboring countries will be more convenient.