RCEP was signed on November 15 last year and was officially approved during this year’s two sessions. The Asia-Pacific region is the gathering place and pioneer of the global e-commerce market. Chapter 12 of RCEP specifically stipulates e-commerce. After summarizing and analyzing, the following 6 points are very beneficial to cross-border sellers. Interested merchants and friends come and have a look!
1. Trade facilitation
Paperless trade such as electronic certification and electronic signature further enhances the legal effect of electronic documents! RCEP proposes that each contracting party should strive to accept trade management documents submitted in electronic form
2. Customs tariffs
As e-commerce exchanges become more common, the contracting parties agree to maintain the current practice of not imposing tariffs on e-commerce in accordance with the decision of the WTO Ministerial Conference.
3. Digital acceleration
More people are beginning to accept online transactions, and digital operations have great potential in ASEAN countries. Perhaps China’s current situation is where they will learn. The online market with technology will overturn the barriers to social and economic development and give the consumer market new vitality and motivation.
4. Domestic sales of products for export
At present, our domestic production capacity is in excess, while consumption power has always been at a medium level. The popularity of e-commerce will bring more unsalable Chinese products overseas, which is the trend in the future. In the future, cross-border e-commerce will bring more Chinese products to countries around the world.
5. Overseas warehouse
The further development of logistics makes the establishment and operation of overseas warehouses more convenient, and the improvement in efficiency is absolutely beneficial to most merchants.
6. Channels need better transaction currencies
At present, the concept of coordinated development of RMB and ASEAN currencies is not strong, and the mainstream centralized platform is not conducive to the formation of a unified cross-border payment channel for ASEAN. The long clearing chain of the existing SWIFT channel leads to low timeliness and high cost of cross-border payments. In the future, efficient markets require more applicable payment conditions.
The signatories of RCEP basically include the Southeast Asian market. It can be said that if the countries in the Southeast Asian market reach a tacit understanding of jointly developing e-commerce on the main framework of RCEP, then it can be foreseen that our domestic e-commerce will have more choices and directions to go overseas. Unlike developed markets like Europe and the United States, the emerging Southeast Asian market can just support our current consumer economic dilemma.