Today, RCEP officially takes effect in the Philippines, marking comprehensive enforcement of RCEP among 15 signatory countries

On November 15, 2020, the ten ASEAN countries, along with Australia, China, Japan, South Korea, and New Zealand, jointly signed the RCEP.

On January 1, 2022, RCEP officially took effect in ten countries including Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, China, Japan, New Zealand, and Australia. It took effect in South Korea on February 1, in Malaysia on March 18, and in Myanmar on May 1. On January 2, 2023, RCEP officially took effect in Indonesia.

Today, on June 2, it takes effect in the Philippines, marking comprehensive enforcement of the agreement among all 15 signatory countries.

RCEP encompasses approximately 30% of the world's total population, GDP, and merchandise trade volume, signifying a new phase of full implementation for the largest and most promising free trade area in terms of population, economic scale, and development potential on a global scale.

Since RCEP implementation, trade relations among member countries have strengthened, driving stable and increased external trade growth. The effective implementation of RCEP has also attracted global investment, with most members experiencing a positive trend in foreign direct investment (FDI) and attracting greenfield investments.

In fact, over the past year, numerous enterprises have benefited from the dividends brought by the implementation of RCEP, such as tariff preferences, simplified customs procedures, and facilitation of trade and investment.

The Certificate of Origin is an important document for exported goods to enjoy tariff exemptions based on trade policies in the importing country. It is often referred to as "paper gold."

According to the latest data from the China Council for the Promotion of International Trade, from January 2022 to April 2023, the national trade promotion system issued over 220,000 Certificates of Origin under RCEP, involving an amount of 9.073 billion USD, resulting in an estimated tariff reduction of approximately 136 million USD for Chinese products imported by RCEP member countries.

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