Yunnan's trade with RCEP countries up 58 percent in Q1

Yunnan's foreign trade with the RCEP countries grew by 58 percent, year on year, to reach 38.81billion yuan (around 5.98 billion U.S. dollars) in the first quarter of 2021, Kunming Customs said on April 21.

Initiated by the ASEAN in 2012, the Regional Comprehensive Economic Partnership (RCEP) was signed in November last year between the ten ASEAN countries and five non-ASEAN states: Australia, China, Japan, New Zealand and South Korea. In March, China took the lead in ratifying the RCEP agreement.

To facilitate the implementation of the agreement, Kunming Customs investigated the companies within its jurisdiction and rolled out special services, so that companies in Yunnan can better tap the huge market potential in the region and seize the business opportunities brought about by the RCEP agreement.

Reporting by Zu Hongbing (Yunnan Daily); Trans-editing by Wang Shixue