What new changes will the RCEP’s entry into force bring to cross-border industries in 2022?


The Regional Comprehensive Economic Partnership agreement (RCEP) entered into force on January 1, 2022.China, Japan, New Zealand, Australia, four non-ASEAN member states, and Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, six ASEAN member states, 10 member states officially began to implement the agreement.After eight years of negotiations, it was officially signed on November 15, 2020 and took effect on January 1, 2022.This represents the formal launch of a free trade area with the largest population, the largest economic scale and the greatest development potential in the world.What new changes will the implementation of RCEP bring to the cross-border industry in 2022?1, accelerate the development and construction of China’s overseas warehouses!According to the 14th Five-Year Plan released on March 13, 2021, China encourages the construction of overseas warehouses to ensure the smooth operation of foreign trade industry chains and supply chains.RCEP also focuses on encouraging the establishment of cross-border e-commerce development service platforms, promoting the construction of supporting logistics service systems, and supporting and building more overseas warehouses.This will accelerate the construction of China’s overseas warehouses and the transformation and upgrading of cross-border e-commerce, providing more quality products and serving consumers in more countries.The biggest concern of Chinese enterprises in overseas investment is the instability of policies. RCEP’s policy dividend standardizes investment policies and stabilizes the investment environment, so that Chinese enterprises are more confident in investing in RCEP regional market, and finally promote the construction of overseas warehouses more actively.On the other hand, the signing of RCEP and more convenient cooperation in resources, goods, technology, service capital and talents among countries in the region will promote the construction of overseas warehouses to the greatest extent.2, promote foreign trade industry facilitation, help small and medium-sized enterprises profit!Under the influence of RCEP, foreign trade barriers will be greatly reduced, and China’s small and medium-sized enterprises will usher in unprecedented benefits.For companies that rely on imports of raw materials and components from RCEP member countries, the elimination of tariff and non-tariff barriers will greatly reduce costs, and the threshold for smes to enter RCEP member countries will also be greatly lowered.Thus help small and medium-sized enterprises in foreign trade profit!In terms of operation mode, the overall openness level of goods trade among the countries in the agreement exceeds 90%, which is much higher than the openness level of wto countries.On investment, the treaty uses a more efficient negative list approach to investment access negotiations.This directly promoted a large number of small and medium-sized enterprises in China to actively participate in foreign export trade, and many enterprises began to strategically shift from the operation and development of the European and American markets to the development of the Southeast Asian market.As we all know, Lazada and Shopee are the two most popular e-commerce platforms in Southeast Asia. This RCEP agreement includes 10 ASEAN countries, including all southeast Asian countries except East Timor.For the sellers of Lazada and Shopee, there is no doubt that this is a policy support, which promotes the development of cross-border e-commerce in Southeast Asia at the national level.RCEP focuses on encouraging the establishment of cross-border e-commerce development service platforms, promoting the construction of supporting logistics service systems and supporting and building more overseas warehouses.These will accelerate the upgrade of Lazada, Shopee, from the savage growth to standardized development, for buyers and sellers have provided more quality services.Final advice:Enterprise for RCEP RECP ahead of industrial layout, for the vast number of foreign trade enterprises and cross-border electricity enterprise’s influence is very large, as business owners, should strengthen the company’s ability to digital transformation and upgrading, make full use of big data, artificial intelligence, from the production end ERP management software, to the supply chain, industry chain and trade sales of digital,To truly transform and upgrade the RCEP and improve efficiency, I believe it will bring tangible policy dividends to all of us.

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