Promotion and Implementation of FTAs Becomes a Hot Topic Prior to RCEP Enters into Force

NANNING, China, Dec. 22, 2021 /PRNewswire/ — On December 22, the Forum on International Cooperation for China’s FTA Promotion and Implementation was held in Nanning, Guangxi, China. The forum was co-hosted by China Council for the Promotion of International Trade (CCPIT) and the People’s Government of Guangxi Zhuang Autonomous Region, and organized by Guangxi CA Panorama Group.

The guests delivered remarks and participated in the topic discussions centered around the theme of “Work Together to Promote FTA Cooperation, Map Out a Blueprint for Regional Development” and discussed relevant topics.

Mr. Liu Hongwu, Vice Governor of Guangxi, said that Guangxi is endeavoring to enlarge the scale of high-quality development, deepening the cooperation with RCEP members, especially ASEAN members, and speeding up to create an ASEAN-ward highland for opening and cooperation that serves the Belt and Road and a key hub for the Domestic-International Dual Circulation.

In the following video remarks, Ms. Gao Yan, Chairperson of CCPIT, brought forward suggestions like practicing true multilateralism to lead the global economic management reform, deepening the bilateral, multilateral, and regional cooperation to share the development and opportunities with every country, etc.

Mr. Han Seung-soo, International Finance Forum Co-Chairman and Former Prime Minister of the Republic of Korea, said that under the environment of de-globalization China and Korea should prepare against unforeseen supply chain shocks by constructing a timely response system to provide a stable environment for businesses.

Mr. Zhang Xiangchen, Deputy Director-General of WTO, said that the forum marks China’s trade facilitation through FTAs as well as its institutional reflection and exploration on global trade relations, adding that this is beneficial for international relations to develop in a stable, orderly, and innovative direction.

Mr. Chen Dehai, Secretary-General of ASEAN-China Center, said that the ASEAN-initiated Regional Comprehensive Economic Partnership (RCEP) will enter into force by January 1^st, 2022, which will stimulate the internal driving force for countries in the region, facilitate the long-term prosperity and sustainable development in the region, and provide a broader space for China-ASEAN cooperation.

A series of achievements were released to facilitate the implementation and promotion of FTAs, such as the Nanning Initiative on International Cooperation for China’s FTA Promotion and Implementation, Guide on FTA Application, and Guide on the Business Environment of Foreign Countries for Chinese Investors.