The world's largest free trade zone officially set sail, adding momentum to world economic development.

Xinhua News Agency Bangkok 65438+1 October1(International Observation) The world's largest free trade zone was officially launched, adding impetus to the development of the world economy.

On June 65438+ 10/day, 2022, the Regional Comprehensive Economic Partnership Agreement (RCEP) came into effect. The entry into force of RCEP as scheduled fully reflects the confidence and determination of all parties to safeguard multilateralism and free trade and promote regional economic integration, and will make important contributions to regional and even global trade and investment growth, economic recovery and prosperity.

RCEP has 15 member countries, including China, Japan, South Korea, Australia, New Zealand and 10 ASEAN countries, accounting for about 30% of the world's population, economic aggregate and total trade volume.

From 1 day, RCEP is effective for Brunei, Cambodia, Laos, Singapore, Thailand, Viet Nam, China, Japan, New Zealand and Australia. South Korea will enter into force on February 1. The remaining member States will also take effect after completing the domestic ratification procedures.

Stimulate the growth of regional trade and investment

RCEP contains huge market potential and will provide strong kinetic energy for regional economic development.

Lin Yuhui, Secretary-General of ASEAN, said that RCEP will help regional economic integration and promote the formation of a unified production base and product market by implementing the rules of origin accumulation, simplifying customs procedures, promoting trade facilitation and providing more transparent, fairer and more predictable trade rules.

Malaysian Prime Minister Ismail said that RCEP has provided new development opportunities for Malaysian enterprises and will also benefit those enterprises that want to expand their markets in Malaysia and ASEAN.

Olamon, director of the Trade Negotiation Department of the Ministry of Commerce of Thailand, believes that RCEP rules of origin accumulation will help enterprises to allocate production resources in the region, integrate regional supply chains and industrial chains, and enhance the level of regional investment facilitation and attractiveness to foreign investment.

Liu Ziyang, a professor at Gyeonggi Province University, said that the entry into force of RCEP is an important step to accelerate regional economic integration in the Asia-Pacific region, and it is expected to become a new engine to stimulate growth in the Asia-Pacific region. "RCEP will further promote the construction of cooperation frameworks and mechanisms in the fields of economy, trade and investment in the Asia-Pacific region, help enhance the openness of members themselves, and promote the deeper development of regional economic and trade relations."

Promote the sustainable recovery of the world economy

Recently, the rapid spread of the mutant COVID-19 Omicron strain has once again dragged down the recovery of the world economy, leading to an increase in the uncertainty faced by various economies. The International Monetary Fund has previously lowered its global economic growth forecast of 202 1, highlighting the multiple risks facing the world economy.

William jones, president of the Washington branch of Global Strategic Information magazine, said that RCEP promoted regional trade growth and helped restore economic activities hit by the COVID-19 epidemic. Jones said that RCEP not only promotes the growth of trade in goods and services, but also covers the development of digital economy such as e-commerce, which will provide impetus for trade and promote world economic growth.

Lu Yaoqun, director of the Institute of Governance and Sustainable Development of the Business School of the National University of Singapore, believes that RCEP promotes the deep integration of the supply chain and is expected to build a "super supply chain" in the Asia-Pacific region to cope with the supply chain disruption caused by the epidemic.

Ge Hongliang, deputy dean of the ASEAN College of Guangxi University for Nationalities, pointed out that the effective implementation of RCEP will help the world economy overcome the impact of the epidemic, get out of weakness and depression, and achieve sustainable recovery.

Maintain the overall situation of global cooperation and opening up

Analysts pointed out that in the context of the global spread of the epidemic, anti-globalization and the rise of protectionism, the entry into force of RCEP will strongly support free trade and multilateral mechanisms and boost regional and global trade confidence.

"RCEP provides a new model for globalization and regionalization. While defending multilateralism, global trade and investment freedom, it also provides a direction reference for global economic governance and institutional reform. " Ge Hongliang said.

Prior to this, ASEAN has signed several pairs of "10+ 1" free trade agreements with China, Japan and South Korea, and there are also several pairs of free trade partnerships between China, Japan and South Korea. Analysts said that RCEP will play the role of "integrator" of regional economic and trade rules.