Although the Regional Comprehensive Economic Partnership Agreement (RCPA)rcep) is considered key to boosting the economy and trade of East Asia. However, Chi Fulin, director of the China (Hainan) Reform and Development Institute, pointed out at the Boao Forum for Asia’s “Creating Asia Growth Center” sub-forum on the 28th, RCEP still faces the problem of underutilization. He cited statistics and pointed out that Japan and South Korea’s utilization rate may exceed 60%, but China’s export utilization rate is only 4.2%, and the import utilization rate is only around 1.5%. However, many ASEAN countries do not even have 1%.

Chi Fulin said that now we need to think about how to improve the utilization rate. To a large extent, we need to improve the RCEP utilization capabilities of RCEP countries, especially ASEAN countries and China, and responsible government guidance in the utilization of RCEP capabilities.

Chi Fulin pointed out that RCEP also faces growing issues, such as whether the negative list for trade in services can be shortened. Furthermore, he believes that RCEP should actively expand its capacity, including considering allowing Hong Kong to join.

korea trade industry andDepartment of EnergyVice Minister Yang Bingnai believes that small and medium-sized enterprises should be especially encouraged to make full use of the RCEP mechanism. Small and medium-sized enterprises, including those in South Korea, still do not know what the RCEP mechanism is, so South Korean officials are launching related promotional plans.

ASEAN Secretary-General Gao Jinhong said the Philippines was the last country to ratify RCEP in June 2023. Gao Jinhong talked about the next step. He said he would draft a protocol to join RCEP among the 10 ASEAN member states and then allow other countries to join. By drafting a protocol for joining RCEP, it is ensured that countries and concerned entities, as long as they are interested in joining RCEP, can negotiate and discuss joining RCEP in a one-to-one manner. can do.

RCEP member countries include the 10 ASEAN countries as well as China, Japan, South Korea.Australiaand New Zealand, a total of 15 countries. This agreement has officially come into force on January 1, 2022.

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