The “sailing” of the regional comprehensive economic partnership agreement (RCEP) has brought broad opportunities and injected strong impetus into regional and global economic growth.
In order to seize the opportunity, Zhejiang, a major foreign trade province, took the lead in issuing the three-year action plan for Zhejiang Province to implement the regional comprehensive economic partnership agreement (2022-2024) (hereinafter referred to as the action plan). Zhejiang small and medium-sized enterprises also take advantage of this east wind to seek new growth points of domestic trade, plan to explore overseas markets and embrace the new dividends of the times.
RCEP releases multiple dividends to enable enterprises to accelerate development
What effect did RCEP have in just half a month?
In Yiwu, Zhejiang Province, known as the “wind vane” of global small commodity trade, trade is busy all year round. The entry into force of RCEP makes the trade of enterprises rooted in this land more convenient and the development space broader.
Today, taro khoda from Japan is familiar with his life in Yiwu. Because of his interest in Yiwu’s logistics cost, supply and other advantages, he founded Yiwu GouBa Trade Co., Ltd. in 2014. He and his company have become a “bridge” to promote China Japan trade from starting from scratch to the continuous development and growth of China Japan import and export trade.
On the first day of 2022, Hotan taro took the lead in enjoying RCEP dividends – the company received the first RCEP certificate of origin issued by Yiwu Council for the promotion of international trade. A batch of clothing and other goods shipped to Japan are worth US $76000. With RCEP certificate of origin, it is estimated that the tariff can be reduced or exempted by 3000 yuan.
“In the long run, the entry into force of RCEP will be very good for us.” He Tian taro said.
In addition to the tariff reduction and exemption of “real gold and silver”, RCEP also adds infinite possibilities for enterprises to improve product competitiveness, explore more overseas markets and achieve development and growth.
Aiming at the auto and motorcycle parts market, Zhejiang International Trade Supply Chain Service Co., Ltd. has built the first auto and motorcycle parts e-commerce platform tokoonderdil in Indonesia, on which four or five hundred inquiry sheets pop up and connect every day.
Deng Chaofeng, general manager of the enterprise, believes that RCEP will bring multiple benefits to the majority of enterprises. For example, the 6-hour customs clearance policy greatly improves the speed of customs clearance and helps enterprises seize the first opportunity in the market; Tariff reduction and exemption can save many costs for enterprises. “Under the RCEP opportunity, the enterprise will iteratively upgrade the tokoonderdil platform in the future, copy the promotion experience and gradually expand other overseas markets.”
Zhejiang takes multiple measures to seize new opportunities
As far as Zhejiang is concerned, the effects brought by RCEP will be concentrated and released, so that a large number of private economies with a wide range can be expected in the future. In addition, the province will also usher in multi-directional “good”.
Ding Shufeng, President of Zhejiang Academy of Commerce, believes that the reduction of transaction costs and circulation costs will accelerate the free flow of goods, capital and personnel in the region and provide a strong driving force for economic development. For the people, not only more high-quality and cheap goods can “fly into the homes of ordinary people”, but also more employment opportunities can be obtained.
In order to seize the development opportunities of RCEP and take advantage of changes, Zhejiang took the lead in releasing the action plan in China and anchoring specific development goals. It is proposed that by 2024, the total amount of goods trade between Zhejiang Province and other RCEP countries will strive to reach 28% of the total amount of Zhejiang Province, and the implementation amount of service outsourcing undertaken by other RCEP countries will exceed US $3 billion; The total number of enterprises invested and established in other RCEP countries has reached more than 300 in three years, and the Chinese investment is more than US $10 billion; The actual utilization of foreign investment from other RCEP countries has exceeded US $3.5 billion in three years.
Yiwu also acted quickly and took the lead in issuing the action plan for Yiwu to build RCEP high-level opening and Cooperation Demonstration Zone in Zhejiang Province, proposing to strive to achieve more than 15 billion yuan of imports to RCEP countries by the end of 2022; Cross border e-commerce exports to RCEP countries of more than 5 billion yuan; Complete the industrial advance layout of ASEAN countries such as Vietnam and Cambodia
How to better grab policy dividends? Ding Shufeng suggested that enterprises should be fully familiar with RCEP rules, adjust better investment direction according to RCEP while enjoying tariff reduction, explore overseas markets, arrange their industrial chain and trade chain in a wider range, and accelerate their integration into the global economy.
