What is RCEP and why is it important?
What is RCEP and why is it important?
The Regional Comprehensive Economic Partnership (RCEP) is a proposed agreement between members of the Association of Southeast Asian Nations (ASEAN) and their Free Trade Agreement (FTA) partners. The agreement aims to cover trade in goods and services, intellectual property rights, etc.
Time of RCEP born
The Regional Comprehensive Economic Partnership was proposed during the 19th ASEAN meeting in November 2011. RCEP negotiations were launched during the 21st ASEAN Summit in Cambodia in November 2012. Now, the goal of all participating countries is to finalize and sign the agreement by November 2019.
Members of RCEP
The ASEAN member countries and their free trade agreement partners include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, China, Japan, India, South Korea, Australia, and New Zealand.
RCEP is very important
The 16 countries negotiated by RCEP together account for one-third of the world's gross domestic product (GDP) and nearly half of the world's population. The combined GDP of China and India alone accounts for more than half. By 2050, RCEP's share in the world economy may account for half of the global estimated US$0.5 trillion (GDP, purchasing power parity).
Goal of RCEP
RCEP aims to create a comprehensive market of 16 countries/regions, making products and services from these countries/regions more accessible in the region.
The focus of the negotiations is trade in goods and services, investment, intellectual property rights, dispute settlement, e-commerce, SMEs, and economic cooperation.
Ecoosi Industrial Co., Ltd. is China's leading manufacturer for all of your industrial flexible air duct hose needs. If you any interested or questions about our air duct, flexible hose, flexible duct, industrial hose, please feel free to click contact us or email: info@eiduct.com or Mobile(WhatsApp): 00-86-187-1155-3123, or our other website: Ductinghose.com, we are always here to satisfy your requirement!
Send Email
ECOOSI
ECOOSI
Jim5040
ECOOSI