The regional comprehensive economic partnership agreement (RCEP) has been in force for more than 100 days since January 1, 2022. How is the implementation of the world's largest free trade agreement progressing? What new opportunities will it bring to Asia Pacific Regional Cooperation? What far-reaching impact will it have on China's further opening up? At the Boao Forum for Asia 2022 annual meeting being held here, the guests discussed. Dividends are beginning to show: closer trade exchanges among Member States "After RCEP came into effect, Chloroaniline, the main product, was exported to Japan, and the tariff rate was reduced from 3.1% to 0. The tariff reduction and exemption for customers was nearly 200000 yuan, which was conducive to our better development of the Japanese market." When it comes to the benefits brought by RCEP, Ma Feifei, head of Jiangsu Suzhou Xiangyuan new materials Co., Ltd., has the biggest feeling of "tax reduction". Thanks to the bilateral tariff concessions reached between China and Japan for the first time under the framework of RCEP, despite the impact of the epidemic, the export volume of this enterprise to Japan has increased by nearly 10% since this year. Since RCEP came into force, Vietnam Zhongxiang Electromechanical Technology Co., Ltd. has imported nearly 3000 agricultural micro tillage machines from China. Yu Guanghai, the manager of the company, said: "the entry into force of RCEP has brought tangible benefits to cross-border traders. Efficient railway transportation customs clearance has sent sufficient mechanical equipment to the company." This is the epitome of the dividends that RCEP has brought to the enterprise. RCEP now has 15 member countries, including China, Japan, South Korea, Australia, New Zealand and 10 ASEAN countries. The three aspects of population, economic volume and total trade account for about 30% of the global total. According to the agreement, more than 90% of the trade in goods in the region will eventually achieve "zero tariff". At the same time, the agreement has formed unified rules in terms of rules of origin, customs procedures, inspection and quarantine, and the degree of intra regional trade facilitation has been further improved. After more than 100 days of effectiveness, the dividend has begun to show. According to customs data, in the first quarter, China's total import and export value to 14 other RCEP member countries exceeded 2 trillion yuan, a year-on-year increase of 6.9%, accounting for 30.4% of China's total foreign trade value in the same period. Among them, the year-on-year growth rate of import and export volume with South Korea, Malaysia, New Zealand and other countries exceeded double digits. This is a multilateral cooperation mechanism. The 2022 annual report of Boao Forum for Asia on Asian economic prospects and integration process points out that RCEP is a regional trade agreement covering the three major economies of China, Japan and South Korea for the first time, and the establishment of free trade relations between China, Japan and South Korea for the first time, marking a milestone step in regional economic integration in East Asia. Akhtar, the Advisory Committee of the Boao Forum for Asia, the former Deputy Secretary General of the United Nations and the executive secretary of ESCAP, said that RCEP has a large market volume and the rules cover the liberalization and facilitation of trade, investment and circulation, which plays a great role in promoting the development of regional trade. Broad prospects: closer connection of value chains between regions Multiple factors such as geographical conflict and century epidemic affect the stability of industrial chain and supply chain. Experts attending the meeting believed that the implementation of RCEP is conducive to reshaping the regional industrial chain and supply chain and coping with the challenges of external shocks. "After RCEP takes effect, the global supply chain pattern will be adjusted." Zhang Wei, vice president of the Institute of international trade and economic cooperation of the Ministry of Commerce, said that the rules of origin accumulation will inevitably promote enterprises to comprehensively calculate costs, form a more reasonable division of labor system in the whole region and reshape the supply chain pattern. Recently, Singapore Golden Airlines Group signed a contract with Hainan Yangpu Economic Development Zone to officially implement the scientific research and industrialization project of high-end natural plant coatings with an annual output of 20000 tons. This is the first time that Member States have invested in real industrial projects in Yangpu since RCEP came into force. Participating experts pointed out that enterprises should fully understand the commercial value of RCEP rules of origin accumulation, actively expand the production scale of intermediate products, grasp the opportunity of industrial chain supply chain reconstruction, and actively extend production and services to the high-end of the value chain. Seizing the opportunity of RCEP, Guangxi Automobile Group and Japan ASF Co., Ltd. signed an agreement to jointly develop pure electric logistics vehicles at the beginning of this year. According to the agreement, China is responsible for R & D and production, and Japanese enterprises pay R & D expenses and sell in Japan. It is planned to realize mass production and market sales in December this year, which will be the first time that Guangxi new energy logistics vehicles enter the Japanese market. The 2022 annual report of Boao Forum for Asia on Asian economic prospects and integration process points out that RCEP members have great industrial complementary advantages, Japan's financial, capital and technological advantages, China's and South Korea's medium and high-end manufacturing, emerging digital industries and the whole industrial chain advantages, labor advantages in Southeast Asia and resource advantages in Oceania, which can bring together the most complete manufacturing categories in the world, Covering the whole industrial chain from high-end to low-end. Far reaching impact: China's institutional opening-up is faster To achieve greater openness in the field of service trade and build a regional manufacturing related service network; Reach comprehensive and high-level e-commerce rules in the Asia Pacific region for the first time... RCEP will promote China to achieve a higher level of institutional openness and better participate in regional integrated development and integrated market construction. The agreement on regional comprehensive economic partnership has officially entered into force, and the railway between China and old fellow has been opened to traffic, effectively enhancing the level of regional hard interconnection and soft Unicom. We should take this opportunity to promote the formation of a more open market in Asia and take new steps in win-win cooperation in Asia. From factor based opening to institutional opening, China's door to opening to the outside world is opening wider and wider, constantly accumulating energy for building a new development pattern. Hainan free trade port is an important window of China's opening to the outside world. Shen Danyang, director of Boao Forum for Asia and executive vice governor of Hainan Province, said that Hainan is actively studying and exploring some rules of the comprehensive and progressive trans Pacific Partnership Agreement first, so as to promote trade in services and other fields. "This is not only conducive to the construction and development of Hainan free trade port, but also conducive to promoting regional cooperation." Greater openness will bring more opportunities and challenges. Enterprises can only take advantage of the situation. Song Hailiang, chairman of China Energy Construction Group Co., Ltd., said that both RCEP and the comprehensive and progressive trans Pacific Partnership Agreement and the digital economy partnership agreement represent high standards of international economic and trade rules, forcing enterprises to actively benchmark the international advanced level and constantly forge more advantageous core competitiveness. (Xinhua News Agency)