GUANGZHOU, China, April 28, 2022 /PRNewswire/ — “For China’s economy, the entry into force of the Regional Comprehensive Economic Partnership (RCEP) means expanded foreign trade and vibrant commercial activities among RCEP member countries,” said Cheng Shi, Chief Economist of ICBC International, during a Canton Fair RCEP-themed forum. He believed that the RCEP regulations will strengthen China’s competitiveness in goods and services exports as well as trade cooperation between China and other RCEP members.
On 1 January, 2022, the RCEP officially entered into effect, which has boosted the confidence of Chinese foreign trade companies in securing trade orders. The Canton Fair, China’s largest B2B import and export trade platform and an all-round opening-up platform, has adopted new approaches in this session to encourage and guide Chinese companies to further explore global markets under the RCEP.
The Canton Fair has actively established partnerships. It has signed cooperation agreements with the Lao National Chamber of Commerce and Industry, the Business Association of China in Vietnam and the ASEAN Furniture Industries Council, which brings the Fair’s total number of global partners to 170, covering all RCEP member countries. The Canton Fair has held a “Trade Bridge” matchmaking event specially targeting the RCEP market. The online event, which was participated by Chinese home furnishing companies and RCEP’s major furniture industry associations and large sourcing groups, has provided an effective platform for exhibitors and buyers to communicate and identify trade cooperation opportunities. The Canton Fair has held several RCEP-themed forums
With the RCEP benefiting more people, the Canton Fair will continue to play an important role in fostering regional economic integration as well as regional and global economic growth. In this session, 117 exhibitors of the International Pavilion were from the RCEP member countries, accounting for nearly 30% of the total. Xu Bing, Spokesperson of the Canton Fair and Deputy Director General of China Foreign Trade Centre, said that the International Pavilion has helped RCEP member countries expand the Chinese market, as well as benefit from the Fair’s vast global buyer resources to export to the global market and share trade opportunities.
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