S.China Hainan rolls out 16 measures to deepen cooperation with RCEP countries

By：Belt and Road Portal Update：2023-04-03

The Commerce Department of south China's Hainan Province recently released 16 specific measures on deepening cooperation with Regional Comprehensive Economic Partnership (RCEP) member states, aiming to further leverage the policy advantages brought by the construction of Hainan Free Trade Port (FTP) and the dividends by the entry into force of the RCEP agreement, reported Chinanews.com Thursday.

According to the measures, Hainan will strengthen economic and trade cooperation with RCEP members, and further deepen international exchanges and cooperation in the fields of intellectual property rights, tropical crops and think tanks.

In terms of building an international cooperation platform, Hainan vowed to actively organize high-level political and business forums and conferences on RCEP cooperation, and provide enterprises with services such as RCEP agreement interpretation, tariff inquiry and certificate of origin issuance.

Priority will be given to strengthen cooperation with RCEP member states in advanced manufacturing, consumer products, medical and pharmaceutical products, and agricultural product processing by relying on Hainan's key industrial parks and regional advantages.

The entry into force of the RCEP agreement and the policies related to the construction of the Hainan FTP has injected vitality into Hainan's foreign trade development.

According to statistics, Hainan achieved 71.18 billion yuan in imports and exports with RCEP trading partners in 2022, up 23.7 percent year on year, and attracted 196 foreign companies from RCEP member states to settle business in the FTP.

Editor: Su Dan