The Regional Comprehensive Economic Partnership Agreement (RCEP) has been in force for a quarter since January 1, 2022. According to data released by the General Administration of Customs of China on the 13th, China's trade volume with member countries of the Regional Comprehensive Economic Partnership Agreement (RCEP) has accounted for 30.4% of China's total foreign trade.In this "circle of friends" with the largest population and the greatest potential for development,In the end, more than 90% of the trade in goods has achieved zero tariff.
For cross-border e-commerce sellers, RCEP brings huge economic benefits and more development opportunities, including but not limited to the following three aspects:
1. Reduce cross-border transaction costs
After the RCEP agreement comes into force, more than 90 percent of the trade in goods among the approved members will eventually achieve zero tariffs, and each member state can promise to reduce tariffs to zero immediately or to zero during the transition period according to national conditions. For cross-border sellers, tariff reductions can directly and significantly reduce cross-border transaction costs,Improve their own competitiveness and profitability.
A very important "cumulative rule of origin" was reached in the RCEP agreement. Under the rule, as long as the value added of the product achieved during processing belongs to the 15 member states,And the cumulative value of more than 40% can enjoy the corresponding tariff concessions.This rule will strongly promote the minimization of production cost and the optimization of trade efficiency within the region, and help to strengthen the cooperation of industrial chain and supply chain within the region.
3. Reduce compliance risks
Due to the dual impact of "anti-globalization" and COVID-19, the global industrial chain and supply chains are still highly uncertain and facing the risk of "supply interruption". After the signing of the RCEP agreement, the flow of resources, goods, technology and service capital cooperation and talent cooperation of the member states in the region will be more convenient,It is conducive to creating value and integrating resources.
On the other hand, differences in policy and regulatory requirements are also a major risk faced by cross-border e-commerce commodity exports. While weakening trade barriers, the RCEP agreement has established a series of uniform rules, facilitating intraregional commodity trade exchanges, and reducing compliance risks for cross-border e-commerce sellers due to differences in trade standards across countries.
Fundamentally, while promoting the rapid growth of e-commerce platforms, the implementation of RCEP will drive the construction and development of e-commerce infrastructure in Southeast Asia, including logistics and warehousing, and open up the international freight transport landscape. However, logistics, transportation, and storage costs are still important factors restricting the operation and development of cross-border e-commerce enterprises at this stage.
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