At the World Class Marine Port Cluster and International Logistics Corridor Construction Promotion Conference held on August 27th, the RCEP Maritime Trade Index Report (2024) (hereinafter referred to as the "Report") was released. The index evaluation results show that the RCEP maritime trade index for 2023 is 102.3, a slight increase of 0.9 compared to 2022, reaching the highest value in the past six years. Despite a year-on-year decrease of 4.6% in global goods trade volume in 2023, RCEP maritime trade remains positive.
Liu Xiangdong, Deputy Director of the Economic Research Department of the China International Economic Exchange Center, stated in an interview with Securities Daily that since the signing and implementation of RCEP, regional economic and trade ties have become increasingly close, and trade exchanges between member countries have become more active. On the one hand, tariff reductions and trade facilitation measures promote the growth of trade and investment within the RCEP region, especially the steady growth of intermediate goods trade, effectively driving the rapid development of port, shipping, and logistics; On the other hand, the cumulative rules of origin within the region have enhanced the resilience and stability of the industrial and supply chains within the region, and the economic complementarity between China and other RCEP member countries has also increased the stickiness of trade links.
The report shows that in terms of specific goods driving the growth of RCEP maritime trade volume, automobiles, refined oil products, and coal will contribute significantly in 2023, with their maritime trade volume increasing by 16%, 8%, and 8% respectively year-on-year. Compared with 2019, the trade volume of China, Indonesia, and Australia in RCEP has significantly increased, with China increasing by 3.3 percentage points, Indonesia increasing by 1.2 percentage points, and Australia increasing by 0.9 percentage points.
Professor Chen Jianwei from the National Institute of Open Trade at the University of International Business and Economics told Securities Daily reporters that the strong adaptability of the market, the increasing demand for key commodity goods, and the optimization of trade structure are the main reasons for the improvement of RCEP maritime trade.
Recently, the Ministry of Commerce issued a notice on the high-quality implementation of the Regional Comprehensive Economic Partnership (RCEP) by referring to and drawing on good experiences and practices, focusing on strengthening top-level design and forming a coordinated effort to promote progress; Focusing on goods trade, escorting enterprises to make full use of preferential rules; Promote service trade and investment cooperation, and assist enterprises in exploring international markets; To create a favorable business environment and support the high-quality implementation of RCEP, we will summarize and extract a number of good experiences and practices in RCEP implementation for reference and continuous improvement of the effectiveness of the agreement.
Li Yongqing, Deputy Representative for International Trade Negotiations of the Ministry of Commerce, stated at a recent press conference held by the State Council Information Office that high-quality implementation of signed free trade agreements such as RCEP will continue to be carried out, further improving the utilization rate of the agreements.
How to further improve the utilization rate of RCEP in the future and help enterprises make good use of the preferential policies formulated by the Chinese Football Association? Liu Xiangdong stated that on the one hand, it is necessary to do a good job in interpreting, promoting and training to help enterprises better grasp the RCEP rules, enhance their ability to apply RCEP rules, and guide enterprises to fully enjoy the benefits of RCEP policies; On the other hand, actively promote the implementation of RCEP rules, work together with other RCEP member countries to upgrade and improve the rules, and create best practices.
Chen Jianwei believes that in addition to strengthening policy promotion and training, it is also necessary to establish an efficient service platform that provides one-stop consultation and support to help enterprises solve practical problems encountered in the process of utilizing agreements. In addition, it can promote cooperation and information sharing among multinational enterprises, optimize resource allocation, and effectively connect markets. Finally, it is necessary to regularly evaluate and provide feedback on the implementation effectiveness of the agreement, adjust policies in a timely manner to adapt to market changes, and further stimulate the enthusiasm of enterprises to participate.