RCEP will take effect on January 1, 2022

        According to news from the Ministry of Commerce on the 13th, the Regional Comprehensive Economic Partnership Agreement (RCEP) will come into effect on January 1, 2022.

        It is reported that the ASEAN Secretariat, the depository of RCEP, issued a notice on the 2nd, announcing that six ASEAN members including Brunei, Cambodia, Laos, Singapore, Thailand, and Vietnam, and four non-ASEAN members including China, Japan, New Zealand, and Australia The Secretary-General formally submitted the approval letter and reached the threshold for the agreement to enter into force.

　　According to the agreement, RCEP will start on January 1, 2022 for the ten countries mentioned above.

        The member states that signed the agreement include 10 ASEAN countries and China, Japan, South Korea, Australia, and New Zealand, with a total population of 2.27 billion, GDP of 26 trillion U.S. dollars, and total exports of 5.2 trillion U.S. dollars, each accounting for about 30% of the global total. .

        After the agreement comes into effect, it means that the region covering about 1/3 of the world's economy will become a pure land for free trade and effective investment, which will greatly increase the stability of regional economic and trade policies, optimize investment expectations, and boost production and consumption confidence , To provide assistance to pull the world economy out of sluggish growth.