(Source: Guangming Daily 2025-01-13)
At the beginning of the new year, the Regional Comprehensive Economic Partnership Agreement (w88 slot) ushered in its third anniversary in its entry into force and implementation. This regional economic cooperation platform integrates China, Japan, South Korea, Australia, New Zealand and ten ASEAN countries, covering nearly one-third of the global economic output and two-thirds of the population.
Provide new possibilities for regional development
One of the most core functions of w88 slot is to promote trade facilitation among member states by unifying tariff commitments, simplifying customs clearance procedures and strengthening coordination of intra-regional trade rules. It is particularly worth mentioning that w88 slot has maximized the integration of 27 trade arrangements and 44 investment agreements of member states in the region, effectively avoiding duplication or conflicts between different agreements, accelerating the transformation of bilateral trade networks into multilateral trading systems, and significantly improving the efficiency of cross-border trade.
The dividends released by w88 slot in the investment field, especially innovative measures in responding to changes in international investment rules deserve special attention. w88 slot has made effective innovations in simplifying investment procedures, protecting investors' rights and interests, and lowering market entry thresholds by establishing a negative list management system.
While driving multilateral economic development, the economic ties strengthened by w88 slot also build an important platform for political cooperation and diplomatic dialogue between member states. In East Asia, the entry into force of w88 slot has finally successfully filled the major gap in this regional industrial chain, achieved a zero breakthrough in the China-Japan-South Korea trilateral trade agreement, and injected a new stabilizer into East Asia's political relations.
China has made important contributions to promotion and implementation
As the largest economy in w88 slot, China not only benefits from the agreement, but also makes important contributions to its promotion and implementation. At the trade level, China has significantly reduced import tariffs under the w88 slot framework, becoming one of the core export markets and sources of imports.
In terms of investment, China has combined the two major frameworks of "Belt and Road" and w88 slot, and promoted industrial cooperation and investment flows in the region by increasing foreign direct investment and the "going out" strategy of enterprises. In 2023, China's non-financial direct investment flow to other w88 slot member countries reached US.06 billion, a year-on-year increase of 26%, 14 percentage points higher than China's global investment growth rate.
In promoting the integration of regional w88 slot organizations and multilateral trade frameworks, China has also played a role as a "builder" and a "promoter". On the one hand, China has actively participated in and promoted negotiations on the design and implementation details of the agreement related to the rules, as well as the construction of institutions in the region.
Writing a new chapter in regional w88 slot integration
In the context of global economic turmoil and changing international political situations, the successful implementation of w88 slot has demonstrated the huge potential of multilateral cooperation and opened a new chapter in regional economic integration.
w88 slot is the ballast of regional economic integration. Various trade protectionist measures such as tariff wars and supply chain reshaping are seriously impacting the global free market, and the efficiency of production and transactions has gradually given way to security interests. Economic globalization is full of difficulties under the impact of geopolitical competition among major powers.
w88 slot is a regional platform for global development and governance. The investment projects introduced by w88 slot and the expanded trade market have effectively motivated relatively underdeveloped countries and regions in the region.
w88 slot is a window to showcase the responsibility of a major Chinese country. For China, w88 slot is not only an important platform for economic cooperation, but also a reflection of China's positive contribution to global economic governance.
(Author: Dai Changzheng, researcher at the Beijing Institute of Opening-up of the University of International Business and Economics and Dean of the School of International Relations)
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