“0” tariffs! “Billions” of business opportunities! RCEP dividends are waiting for you!

On November 15, 15 countries including the ten ASEAN countries and China, Japan, South Korea, Australia and New Zealand formally signed the Regional Comprehensive Economic Partnership (RCEP), marking the official conclusion of the world's largest free trade agreement.

With regard to promoting e-commerce, major breakthroughs have been made, especially in tariffs. After the agreement comes into effect, more than 90% of the goods trade in the region will eventually achieve "0 tariffs" and the unification of negative lists . In the future, this may increase to 95% of taxable products to promote the development of cross-border e-commerce in relevant contracting parties.

From the perspective of the signatory countries, Southeast Asian e-commerce platforms such as Shopee and Lazada, Korean e-commerce platform 11 Street, as well as Japan Asia, Australia Asia, etc., will all benefit directly from this agreement.

RCEP is beneficial to the foreign trade sector between the entire Southeast Asia and my country. If foreign trade is difficult to go global in the face of the global epidemic, then another new channel will soon become a bridge connecting Southeast Asia and my country.

Cross-border e-commerce in the Greater Bay Area takes advantage of RCEP

When it comes to developing cross-border e-commerce, the Greater Bay Area is not a blank slate.

As the only way for most domestic foreign trade companies to enter and exit the country, the Greater Bay Area has very close trade relations with Southeast Asia and has maintained double-digit growth in recent years.

The geographical advantages allow the Pearl River Delta to host many logistics, warehousing and distribution transportation lifelines, and actively drive the development of modern industries such as modern finance in surrounding cities such as Hong Kong, innovative technology in Shenzhen, and advanced manufacturing in Foshan.

"In the new development pattern of dual circulation, the Guangdong-Hong Kong-Macao Greater Bay Area can play a greater role in RCEP regional integration cooperation by relying on the smooth flow of the domestic large market and the efficiency and facilitation of supply, demand, input-output, logistics and commercial flows between the RCEP region." Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges, said.

How will the Greater Bay Area tap into RCEP business opportunities in the next quarter?

During this year's 11.11 promotion, Southeast Asian cross-border e-commerce platforms received more than 20 million visits in the first hour, and 200 million items were sold in 24 hours. Chinese sellers and brands performed particularly well - Chinese cross-border sellers who participated in the 11.11 promotion for the first time led the overall new sellers with nearly 15 times the number of orders on normal days.

Mainstream e-commerce platforms in some Southeast Asian countries

As the construction of the “Belt and Road” continues to deepen, cross-border e-commerce trade between the Greater Bay Area and Southeast Asia will become increasingly close. At this time when RCEP is in its dividend period, how can we establish connections with Southeast Asian e-commerce platforms and seize the Southeast Asian market?

From January 15 to 17, 2021, the "Greater Bay Area Cross-border E-commerce New Channel Expo" will be held at the Tanzhou International Convention and Exhibition Center! Relying on the favorable policies brought by RCEP, aiming at the new wave of cross-border e-commerce dividends, opening up the Southeast Asian and even global trade markets, and creating growth in the first quarter of 2021.

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