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Chairman Mimura's Comments on the Coming into Effect of the Regional Comprehensive Economic Partnership (RCEP) Agreement

Chairman Mimura's Comments on the Coming into Effect of the Regional Comprehensive Economic Partnership (RCEP) Agreement

 

3 November 2021

 

I sincerely welcome the coming into effect of the Regional Comprehensive Economic Partnership (RCEP) Agreement in January next year.

 

The RCEP stipulates a high level of liberalization and rules that exceed the WTO rules, and will contribute to building a strong supply chain and strengthening international competitiveness for Japanese companies operating in the Asia-Pacific region.

 

Above all, for Japan's largest trading partner of China, the RCEP will contribute not only to corporate risk aversion, but also to the stabilization of economic relations between the two countries by establishing rules in a wide range of fields, such as intellectual property and electronic commerce.

 

Japanese companies are working hard to recover demand from the impact of activity restrictions caused by the spread of COVID-19. I hope that many Japanese companies will use RCEP to promote trade and investment in the region.

 

Regarding India's participation, I hope that tenacious negotiations will continue in order to increase the economic and strategic significance of RCEP and to create a free and open Indo-Pacific.