The entire Asian-Pacific region - including China - has committed to improve trade links between countries to lay the foundations for higher economic growth
RCEP is the largest free trade agreement in history with its member countries accounting for about 31% of global GDP and about 30% of global population
KEY FINDINGS
02
RCEP’s objective is to facilitate the expansion and liberalization of trade for about 92% of regional goods and 65% of all service sectors
Products with 40% value added and/or sourced content from within the RCEP region qualify as localized under the cumulation rule and are treated as originating goods
KEY FINDINGS
03
Many RCEP members are party to international investment agreements and bilateral FTAs
The RCEP countries have introduced a simplified rule book that addresses non-tariff trade barriers to accelerate trade
Still, critics have observed that RCEP falls short behind the gold standard of CPTPP on intellectual property, government procurement, labor law or environmental regulations.
KEY FINDINGS
04
China contributes with 17.7 tln. USD approximately 60% to RCEP's GDP.
China’s five-year GDP growth of 58% stands out compared to ASEAN and Germany with both 22% and the World with 20%.
KEY FINDINGS
05
Strong economical bond between Germany and RCEP countries exist already
13% (173 bn. €) of all German exports are sent to RCEP countries
17% (192 bn. €) of all German imports coming from RCEP countries
178 bn. € in foreign direct investment (FDI)
1,3 mio. Employees
5,000 companies
KEY FINDINGS
06
RCEP offers an interesting opportunity with increasing future potential for European companies.
One way is to tap into RCEP’s trade zone by utilizing already existing FTAs and new upcoming ones, which are currently in negotiation between the EU and individual RCEP members
The key advantage of RCEP for Western companies is the opportunity to balance their investments in the Asia-Pacific region against an overly large exposure to China
KEY FINDINGS
07
astutus consult’s and Vindelici’s connections in the RCEP region, and representations in Malaysia and Shanghai, makes securing high value contacts, understanding the region, and developing multi-national supply chains an uncomplicated endeavor
We support you in diversifying local production, value- and supply chains in the ASEAN and RCEP region
