Launch of the Chinese Business Community Initiative on Jointly Promoting Regional Business Cooperation Under RCEP

The Chinese Business Community Initiative on Jointly Promoting Regional Business Cooperation Under RCEP

February 5th, 2020

On November 15th 2020, the“Regional Comprehensive Economic Partnership Agreement”was signed. RCEP is composed of the member states of ASEAN (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Thailand and Vietnam), China, Japan, Korea, Australia and New Zealand. It forms a free trade area which contains the largest amount of population among all of the other FTAs and with the largest scale in economy, diversity in component and with a huge potential.

In order to implement the "Joint Statement" issued by the leaders of RCEP member states on November 15th, 2020, with the hope that RCEP will take effect smoothly and achieve the expected purpose of RCEP construction, we jointly propose:

1.Fully realize the significant meaning of RCEP construction. The signing of RCEP is a major achievement in the implementation of free trade and multilateral cooperation. It is a major measure of regional open cooperation. It demonstrates that member states are jointly promoting regional economic recovery and growth, jointly responding to the COVID-19 pandemic and the unstable world economy, and jointly developing the potential of regional economic growth, and also opening up new development space for enterprises. The construction of RCEP is not only conducive to the economic growth of the member states in the region, but also conducive to the growth of the world economy. The proponents are willing to work closely and friendly cooperation with all relevant parties in the RCEP member countries, including the business community, to increase trust and dispel doubts, and jointly help achieve the purpose of RCEP construction.

2.Jointly seize opportunities of opening up, strengthen industrial cooperation, expand trade and investment. Industry is the foundation of economic growth. Strengthening regional industrial cooperation can bring a comprehensive cooperation to enterprises which is beneficial and can promote regional productivity, anti-risk capability and international competitiveness. RCEP member states have conditions for industrial cooperation, close trade and investment relations, strong industrial complementarity, wide cooperation space and great potential. The proponents are willing to actively connect with the business communities of the member states of the RCEP region, strengthen mechanism construction, establish the RCEP Industry Cooperation Committee, the RCEP Industry Cooperation Research Institute, and the RCEP Industry Cooperation Promotion Center, and actively create a new industry chain that complements each country’s advantages in the open market.

3.Supporting each other and cooperating to fight the pandemic, and jointly help build favorable conditions for an open market. The Covid-19 pandemic has restricted the flow of people and goods between countries to a considerable extent, and restricted the production and construction of enterprises in most countries. Facing the pandemic, it is particularly necessary for countries to cooperate to fight against it. The proponents are willing to support each other with the business communities of the member states of the RCEP region, and during the global pandemic period holding seminars on the impact of the pandemic, business opportunities matchmaking, product exhibitions, and investment promotion meetings to jointly help the governments of relevant countries to open and expand personnel exchanges. The "fast channel" and the "green channel" of goods circulation together play an active role in stabilizing the industrial chain and supply chain.

4.Let enterprises play the main roles as a new force in economic and trade cooperation. Entrepreneurs' innovative and pioneering management, and mutually beneficial cooperation are the vitality of RCEP's regional development. To seize RCEP business opportunities, enterprises need to understand RCEP rules, open market processes, development plans and policies in various countries, make good use of multiple free trade agreements, implement correct business strategies and tactics, and operate in compliance with laws and regulations and with integrity. The proponents are willing to work with the business organizations of the member states of the RCEP region to pave the way for business cooperation and provide services such as information, consulting, and training. China is implementing a "dual circulation" development pattern, and is co-constructing a high-quality "Belt and Road" with relevant countries and organizations. The proponents are willing to strengthen cooperation with the business communities of the member states of the RCEP region to share the business opportunities of China's economic growth. The proponents believe that with the firm confidence, friendly cooperation, and active actions of the business communities of the member states of the RCEP region, new economic development in all countries and regions will be achieved.

Joint Initiators:

1. China-ASEAN Business Council

2. China Entry-Exit Inspection & Quarantine Association

3. China General Chamber of Commerce

4. China Electricity Council

5. China Power International Cooperation Union

6. China Petroleum and Chemical Industry Federation

7. China Petroleum and Chemical Industry Alliance for International Production Capacity Cooperation

8. China Machinery Industry Federation

9. China National Light Industry Council

10. China Information Technology Industry Federation

11. China Building Materials Federation

12. China Association of Trade in Services

13. China Communications and Transportation Association

14. China international Freight Forwarders Association

15. China Packaging Federation

16. China Chamber of Commerce for Import and Export of Machinery and Electronic Products

17. China Chamber of Commerce for Import and Export of Textiles

18. China Association of International Engineering Consultants

19. China Electronics Chamber of Commerce

20. China Information Industry Trade Association

21. China Internet of Things Chamber of Commerce

22. China Photovoltaic Industry Association

23. China Building Materials Circulation Association

24. China Aggregates Association

25. China Stone Material Association

26. China Building Material Machinery Association

27. China Building Ceramic & Sanitaryware Association

28. China Association of Building Energy Efficiency

29. China Fiberglass Industry Association

30. China Association of Agricultural Machinery Manufactures

31. China Heavy Machinery Industry Association

32. China Petroleum & Petrochemical Equipment Industry Association

33. China Nonferrous Metals Industry Association

34. China Instrument Manufacturer Association

35. China Hydraulics Pneumatics & Seals Association

36. China Electrical Equipment Industry Association

37. China National Garment Association

38. China Chemical Fibers Association

39. China Plastic Processing Industry Association

40. China Light Industry Machinery Association

41. China Household Electrical Appliances Association

42. China Bicycle Association

43. China Leather Industry Association

44. China Dairy Industry Association

45. China Sugar Association

46. China Technical Association of Paper Industry

47. China Starch Industry Association

48. China Aquatic Products Processing and Marketing Alliance

49. China Fisheries Association

50. China Non-staple Food Circulation Association

51. China Commerce Association For General Merchandise

52. China Association for Small & Medium Commercial Enterprises

53. China Association For Medical Devices Industry

54. China research and promotion of traditional Chinese Medicine

55. China Nitrogen Fertilizer Industry Association

56. China Association of Fluorine and Silicone Industry

57. China Controlled Chemicals Association

58. China Chamber of Commerce for Petroleum Industry

59. China Paper and Pulp Industry Chamber of Commerce

60. All-China Bakery Association

61. All-China Chamber of Commerce for Jewelry & Precious Metals Industry

62. China Council for the Promotion of National Trade

63. China Non-Governmental Science & Technology Entrepreneurs Association

64. China-ASEAN Science & Technology Industry Cooperation Committee

65. China-ASEAN Food Industry Cooperation Committee

66. China-ASEAN Pharmaceutical Industry Cooperation Committee

67. China-ASEAN Cooperation Committee on Daily-used Chemicals

68. China-ASEAN Construction Industry Committee

69. China-ASEAN Building Material Industry Cooperation Committee

70. China-ASEAN Building Decoration Industry Cooperation Committee

71. China-ASEAN Logistics Industry Cooperation Committee

72. China-ASEAN Footwear Industry Cooperation Committee

73. China-ASEAN Rosewood and Furniture Industry Cooperation Committee

74. China-ASEAN Coffee Industry Cooperation Committee

75. China-ASEAN Convention & Exhibition Industry Cooperation Committee

76. China-ASEAN SME Committee

[ Editor: Zhang Zhou ]