The 15 Countries Of The Regional Comprehensive Economic Partnership Agreement (RCEP) Announced An Agreement.

According to the Ministry of industry and Commerce resources of Korea, the 10 ASEAN countries held the summit meeting of the regional comprehensive economic partnership agreement (RCEP) in Bangkok, Thailand (108) in November 4th (108) on November 4th. The 15 heads of state, including India, jointly issued statements declaring that all the contents of the 20 chapters of the agreement were negotiated, and the signing of the agreement was completed in 2020. In the future, they will actively negotiate with India and fail to reach a consensus on the issue.

It has been pointed out that since RCEP launched its first consultation in May 2013, it has been consulting for 7 years. At present, the agreement on 20 chapters has been reached. The market liberalization of goods, services and investment has also entered the final stage of consultation. Only a few countries need to reach an agreement. The chapters of the RCEP agreement include 5 chapters, namely, goods, trade remedy, services (finance, communications, professional services annex), natural person mobile, e-commerce transactions, investments, origin, customs clearance, health and quarantine measures (SPS), technical specifications and conformity assessment procedures (STRACAP), intellectual property rights, competition, government procurement, SMEs, economic and technological cooperation and general provisions.

The South Korean government believes that RCEP is the first largest Mega FTA to be signed by South Korea. Its membership accounts for more than half of the world's population and the total GDP of Member States accounts for 1/3 of global GDP. Another RCEP Member States, including the poorest developing countries in mainland China and developed countries, and other countries with different levels of economic development, but most of the countries with high growth potential are expected to become the platform for Korean enterprises to expand the market with rapid growth potential. The South Korean government looks forward to taking the centrality as the main axis (centrality). In addition, under the current global trade protectionism diffusion, the Korean government and enterprises expect to improve the trade and investment environment in the region through RCEP, and promote the exchange of Humanities and materials in the region.

The South Korean government also said that the goods manufactured in several countries in the RCEP area will be applied to preferential tariffs in the future, which will enhance the value chain in the region and expand the trade types with the key South countries. It is also expected that Korean enterprises will continue to invest in the RCEP region, ensuring the diversified production infrastructure in the region and increasing the opportunities for enterprises to expand new markets.

The RCEP agreement reached the agreement as follows:

First, determine the latest trade rules: RCEP joins the chapters on e-commerce transactions and intellectual property rights, which are not included in the Korean ASEAN FTA, to ensure the latest specifications in line with changes in the trade environment.

1., with the rapid development of digital technology, it is expected that the entry of e-commerce transactions will help expand the e-commerce market of RCEP Member States and accelerate the development of the fourth industrial revolution related industries.

2. the chapter on intellectual property rights will include protection standards of intellectual property rights such as copyright, patent, trademark and design, so as to strengthen copyright protection and facilitate South Korea to expand its content in the RCEP area.

3.RCEP also joins small and medium enterprises, government procurement and competition in the chapters which do not join Korean ASEAN FTA to enhance transparency in these areas.

Two, lay the foundation for trade facilitation: set up a comprehensive country of origin reference for 16 countries, enhance the convenience of enterprises to make use of FTA, and strengthen the value chain in the region.

1. reunification and 7 bilateral FTA signed by RCEP member states (Han Singapore, Korea ASEAN, Han India, Korea, Australia, South Korea, China, Korea Vietnam, South Korea and New Zealand), and improve the certificate of origin, save the cost of enterprises and lighten the burden of enterprises, and facilitate the use of enterprises.

2. the goods purchased and processed in the RCEP area will be identified by material accumulation, and the value chain of production in the region should be established to strengthen the links between industries in the region so as to ensure the competitiveness of enterprises.

3. join the chapter on customs clearance and trade facilitation, which is not included in the FTA, which is expected to enhance the convenience of Korean enterprises to make use of RCEP.

Three, improve the norms in the field of services and Investment: the FTA will strengthen the liberalization of services and investment markets and enhance the rights and interests of investors.

1. the FTA strengthened the liberalization of services and looked forward to the service trade in the region. Through the signing of the annex to finance and communications, it is necessary to expand the infrastructure of the financial, technological, financial and communications industries.

2. in view of the recent increase in investment in RCEP countries, it is essential to ensure higher level of investment liberalization and protection standards for the ROK ASEAN FTA.

Four, to safeguard long-term partnership with major countries in the New South: lay the foundation for promoting cooperation and drive economic development and growth in the region. We should establish a framework of mutually beneficial cooperation among member states that can promote the development gap, and promote the development of strategic cooperative relations in the region.