Upgraded China-ASEAN partnership strengthens RCEP cooperation

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NANNING, November 23 (Xinhua) — HF SPIRIT, a freighter departing from Jakarta, Indonesia, arrived at Qinzhou Port in southern China’s Guangxi Zhuang Autonomous Region on November 20, bringing five reefer containers full of fresh fruit.

Lu Xiaoshan, director of shipping department of New Sitc International Shipping Agency (Shanghai) Co., Ltd’s Turkey branch, said, “Indonesia’s bananas, mangosteens, Thailand’s coconut, longan, durian and Vietnam’s pitaya are the ‘borers’ on board, ” said. qinzhou

Lu added that the company has been constantly adding new routes to the Association of Southeast Asian Nations (ASEAN) member countries in recent years, thanks to the strong Sino-ASEAN trade.

This year marks the 30th anniversary of the establishment of dialogue relations between China and ASEAN. In the last three decades, trade between China and ASEAN has increased 85 times. Last year, China remained ASEAN’s largest trading partner for 12 consecutive years, while ASEAN became China’s largest trading partner.

Since the implementation of the China-ASEAN Free Trade Agreement (CAFTA) in 2010, trade in goods and services between China and ASEAN has grown rapidly, thanks to the deep integration of industrial and value chains. Tariffs applied to 7,000 products were shelved within the framework of CAFTA.

On Monday, China and ASEAN jointly announced the establishment of a comprehensive strategic partnership, a new milestone in the history of China-ASEAN relations, to further contribute to the building of an open, inclusive and sustainable region that benefits from peace, security, peace and security. welfare and sustainable development.

Wang Zhengbo, CEO of Guangxi TWT Supply Chain Management Co., Ltd., is busy exploring new business opportunities by importing Cambodian tapioca, mango, rice and other agricultural products to China.

Wang said Cambodia’s products have advantages in terms of quality and price. “The deepening of bilateral cooperation has made cross-border trade much more affordable. Also, after learning that the Regional Comprehensive Economic Partnership (RCEP) agreement will come into effect soon, the two banks offered to provide financial support for our new business.” Wang added that the newly harvested Cambodian tapioca chips will soon be on their way to China.

Initiated by 10 ASEAN countries to establish a unified market by reducing tariffs and non-tariff barriers, the RCEP will take effect on January 1, 2022, with more than 90 percent of goods trade in the region eventually going to zero tariffs. .

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

Do Nam Trung, Vietnam’s Consul General in Nanning, said that the signing of the RCEP will greatly enhance the development of economic globalization and usher in a new era of economic and trade exchange between ASEAN and China.

Oh Ei Sun, a senior research fellow at the International Institute of Singapore, said RCEP is particularly useful for reducing and removing trade barriers, creating the world’s largest common market where goods and services can be bought and sold more freely, thereby accelerating regional and world economic revivals. Works.

“The China-ASEAN relationship has evolved into the most successful and dynamic model of cooperation in the Asia-Pacific region,” said Professor Zhai Kun from Peking University’s School of International Studies.

“Improving China-ASEAN bilateral relations will open up more cooperation options for regional and global governance and will greatly advance RCEP,” Zhai said. said.

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