Themed “Impacts of the Regional Comprehensive Economic Partnership (RCEP) Agreement on Vietnam’s economy – What businesses need to know,” the workshop aimed to provide reporters and specialized editors from press agencies with information about the RCEP Agreement and Vietnam’s latest policies on the RCEP Agreement implementation.

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At the workshop

At the event, participants were introduced to contents of the RCEP Agreement and what businesses need to know, impacts of RCEP Agreement on the Vietnamese economy and enterprises, regulations on the RCEP Rules of Origin, special preferential import tariff, financial services and customs procedures, and more.

RCEP was clinched in November 2020 by ten ASEAN member states and six dialogue partners, namely China, Japan, the Republic of Korea, India, Australia, and New Zealand, and started to take effect in January 2022. RCEP negotiations were formally launched at the end of 2012. In November 2019, India withdrew from RCEP Agreement negotiations.

The RCEP agreement will form the world’s largest free trade  area, covering 2.2 billion people, or 30 percent of the world population with combined gross domestic product (GDP) of about 26.2 trillion USD (nearly 30 percent of global GDP).

Therefore, RCEP is expected to create a stable and long-term export market for ASEAN countries in general and Vietnam in particular, contributing to promoting the implementation of Vietnam’s policy on building an export-oriented production base.

Translated by Quynh Oanh