Chongqing- The Regional Comprehensive Economic Partnership Agreement (RCEP) was officially signed on November 15th, 2020, when ASEAN joined hands with China, Japan, South Korea, Australia, and New Zealand to establish the largest free trade zone worldwide after 31 rounds of negotiations spanning eight years.

As Chongqing's geographical location is close to ASEAN with convenient logistics and transportation, bilateral trade import and exports have continued to grow quickly year on year. Now that RCEP has been signed, Chongqing and the western region stands to benefit considerably from the agreement thanks to advanced infrastructure, manufacturing, and business-friendly policies and environment.

In light of the 14th Five Year Plan discussed at the 2021 Chongqing Two Sessions, great efforts are set to be invested into the integration of a new development model, with a focus on the optimization and upgrade of industrial and supply chains, construction of a new highland for reform and opening up, coordinated development of the Chengdu-Chongqing Economic Circle, and an optimized business environment for the integration of domestic and international cycles. As RCEP coincides with this historical juncture, the agreement will play an important role in achieving the new objectives and tasks set for the next five years.

For this special episode of Chongqing Opportunity, we held a roundtable discussion with prominent industry figures to explore future cooperation opportunities between Chongqing and ASEAN under the RCEP agreement and discuss how cooperation and development will progress under the many trade advantages that the RCEP aims to promote.

A group of distinguished guests accepted the invitation of Chongqing Opportunity to discuss the RCEP. They are Mr. Wan Zhijun, Deputy General Manager of Chongqing SOKON Motor (Group) IMP.& EXP. Co., Ltd.; Mr. Alex Wei, Tax Associate Director of PwC Chongqing Office; Mrs. Liu Yi from the Law Department of China Council For The Promotion of International Trade Chongqing Committee; and Mr.Tony Wen, Deputy General Manager of Chongqing Chinabase Import and Export Co., Ltd.