Chongqing - The Chongqing RCEP Investment and Trade Service Center debuted with 11 overseas centers from Australia, Singapore, South Korea, Malaysia, Thailand, Vietnam, and others at the China (Chongqing) RCEP Economic and Trade Cooperation Forum held on April 27 in Banan District, Chongqing.
Established by the government, the Chongqing RCEP Investment and Trade Service Center is a comprehensive service platform that integrates legal, financial, taxation, business inspection, project consultation, implementation, government-business relations, and cross-border public relations.
The center fosters a rich network of domestic and international working relationships by bringing together RCEP political and business resources and specialized organizations along the economic and trade service chain. This allows it to provide comprehensive services strengthening Chongqing's bilateral economic and trade interaction with RCEP member countries.
In 2022, the total import and export volume between Chongqing and RCEP member countries exceeded RMB 250 billion, marking a year-on-year growth of 9.2% and accounting for over 30% of the city's total foreign trade. Additionally, RCEP member countries established 39 new projects in Chongqing.
"Chongqing enjoys close economic and trade ties with RCEP member countries, along with strong industrial complementarity, broad development prospects, and immense cooperation opportunities," said Zhang Guozhi, Deputy Mayor of Chongqing, during his speech.
Ekachat Seetavorarat, Deputy Secretary-General of the Thai Ministry of Commerce, mentioned in a video speech that since the implementation of RCEP, Thailand's trade with RCEP member countries has seen significant growth. He expressed his belief that the center's launch will promote deeper development of trade and investment between Thailand, Chongqing, China, and other RCEP member countries across various industries.
At an RCEP enterprise training meeting held in Jiulongpo District on the same day, Luo Liangliang, a senior lecturer at O-Tech, a Shanghai-based general solution provider of cross-border trade, highlighted that RCEP policies might not be the optimal tariff choice for businesses in the short term. RCEP tariff rates vary by country, and companies need to determine in advance whether other bilateral free trade agreements cover their export regions.