Regional market plan promotes digital trade
Guests discussed jointly establishing a uniform regional market and promoting digital trade together at the 21st World Business Leaders Roundtable held in Xiamen on Wednesday.
The event is an important supporting forum at the ongoing China International Fair for Investment and Trade also hosted in the city. This year's roundtable title is "RCEP－the new prospect of regional cooperation and development".
It has invited important politicians from members of the Regional Comprehensive Economic Partnership, a free trade agreement signed by 15 Asia-Pacific countries, envoys in China and executives from international industrial and commercial organizations, Fortune Global 500 companies and other leading businesses.
Their discussions hoped to help companies take opportunities brought by the RCEP agreement, advance economic cooperation among RCEP members and establish platforms for promoting integrative development of the regional economy and recovery of the world economy.
The roundtable has aided in regional trade and investment since it was launched in 2002. The RCEP covers about 30 percent of the world's population and trade.
The RCEP agreement officially came into effect this year. It brings opportunities for investment and cooperation under China's dual-circulation development pattern, which takes the domestic market as the mainstay while letting domestic and foreign markets reinforce each other.
The agreement is helpful in offsetting negative influence brought by the COVID-19 pandemic and changes in international situations.
Ke Liangdong, vice-chairman of the China Council for the Promotion of International Trade, said the council "highly values promotion and implementation of free trade agreements such as the RCEP".
The council, also known as CCPIT, specifically established a leading group for such work on the RCEP agreement earlier this year and made it one of its nine action plans for 2022.
It organized skillful teachers who know trade rules well to offer training in interpreting and utilizing RCEP policies.
The CCPIT Xiamen Committee and Xiamen Chamber of International Commerce－two organizations incubating several economic and trade event brands－have developed the roundtable for years.
They actively helped companies cooperate with quality resources at home and abroad and propelled high-level regional opening-up.
The roundtable has involved several hot issues, ranging from regional finance and supply chains to cross-border e-commerce and artificial intelligence.
This year, it chose the RCEP as its topic, hoping to establish a platform for domestic and foreign organizations to benefit from regional cooperation and pursue prosperous development.
If Xiamen takes advantage of the opportunities brought by implementation of the RCEP agreement, its foreign trade will hopefully welcome new opportunities for development and the city's export-oriented economy will grow faster.
Imports and exports between Xiamen and other RCEP members account for one-third of the city's foreign trade. Xiamen's investment in RCEP members is increasing.
Huang Yantian, vice-mayor of Xiamen, said the city will support foreign trade companies to expand in RCEP markets, while also offering an excellent business market and improving services.
The CCPIT Xiamen Committee signed cooperation memoranda with four organizations including the RCEP Industry Cooperation Committee at the roundtable. The move further expanded channels for Xiamen's high-level opening-up as well as its foreign communication and cooperation.
The groups plan is to further enrich the roundtable's content, offer enterprises better domestic and foreign resources and serve regional trade partnership.
The event was hosted by CCPIT, the CIFIT organizing committee and the World Trade Centers Association.
The roundtable was supported by organizations such as ASEANChina Centre, the administrative committee of China (Fujian) Pilot Free Trade Zone's Xiamen Area and the Xiamen Federation of Industry and Commerce.
songmengxing@chinadaily.com.cn
