The Regional Comprehensive Economic Partnership Agreement (RCEP) has played a great role in promoting economic cooperation among its member, according to Li Kuiwen, Director of the Statistics and Analysis Department of the General Administration of Customs of China. 

In July, he said, trade between China and RCEP partners totaled 180 billion USD, up 19%, and amounting to 5.6% of the growth of China’s foreign trade. Trade between China and other members of RCEP in the first seven months of 2022 increased 7.5%. RCEP, signed in 2020 and effective January, 2022, is a free trade agreement between the ten members of ASEAN and five partners – Australia, China, Japan, New Zealand, and Republic of Korea.

Source: VOV5