China has reiterated its dedication to promoting free trade in the Asia-Pacific region through the comprehensive implementation of the Regional Comprehensive Economic Partnership (RCEP). On Friday, Chinese Foreign Ministry spokesperson Mao Ning highlighted China’s commitment to high-quality execution of the RCEP, aiming for common development and prosperity among member economies.
The RCEP, which marked its third anniversary of coming into force on Wednesday, is the world’s largest free trade agreement, encompassing the greatest population and scale of trade, with immense potential for development. “It has injected strong vitality into regional economic integration in the Asia-Pacific, brought market opportunities to member economies, and boosted the international community’s confidence in multilateralism,” Mao Ning stated during a regular press briefing.
According to a study by the Asian Development Bank, the RCEP is anticipated to contribute \$245 billion in economic growth and create 2.8 million jobs within the region. These projections underscore the significant impact of the RCEP on regional economies and highlight the benefits of continued collaboration among member nations.
China’s ongoing efforts to implement the RCEP reflect its commitment to fostering a more open and interconnected regional market. By promoting free trade and reducing barriers, China aims to facilitate shared prosperity and enhance economic ties across the Asia-Pacific.
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China says will continue promoting Asia-Pacific free trade under RCEP
cgtn.com
