Key statistics and trends in trade policy 2021 : the regional comprehensive economic partnership tariff concessions
The report analyzes the Regional Comprehensive Economic Partnership (RCEP) tariff concessions and their implications for international trade, highlighting trends in trade policies, tariffs, and non-tariff measures affecting global trade dynamics.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | United Nations |
| Publication date: | 2022 |
| Authors: | Alessandro Nicita |
| Geographic focus: | Australia, Brunei Darussalam, Cambodia, China, Japan, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Republic Of Korea, Thailand, Viet Nam |
Methods
The research method involved analyzing trade data from various sources, including UNCTAD's TRAINS database and WTO's tariff schedules. It utilized statistical calculations to assess tariff concessions, trade agreements, and non-tariff measures across different countries and sectors.
(Generated with the help of GPT-4)
Key Insights
The report provides a comprehensive overview of the Regional Comprehensive Economic Partnership (RCEP), a trade agreement involving fifteen countries aimed at enhancing regional trade and economic integration. Signed in November 2020 and effective from January 1, 2022, RCEP seeks to improve market access and facilitate trade among member nations. The agreement includes significant tariff concessions, eliminating tariffs on over 90% of goods traded within the bloc, although it allows for exemptions and postponements in sensitive sectors. The report details the varying levels of tariff reductions among member countries, with Australia, Brunei, New Zealand, and Singapore having already liberalized most trade, while Cambodia, China, and South Korea maintain higher tariffs. It also discusses the broader context of international trade, noting the stability of tariffs in recent years, the impact of the COVID-19 pandemic on trade agreements, and the prevalence of non-tariff measures, which regulate a significant portion of global trade. The findings indicate that while tariff barriers have decreased, challenges remain, particularly for developing countries facing higher tariffs in key sectors like agriculture and textiles. The report emphasizes the importance of RCEP in fostering deeper economic ties and addressing trade barriers among its members.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2020s time horizon | English publication language | 2022 publication year | Australia geographic scope | Brunei Darussalam geographic scope | Cambodia geographic scope | China geographic scope | Indonesia geographic scope | Japan geographic scope | Lao People's Democratic Republic geographic scope | Malaysia geographic scope | Myanmar geographic scope | New Zealand geographic scope | Philippines geographic scope | Republic Of Korea geographic scope | Singapore geographic scope | Thailand geographic scope | Viet Nam geographic scope | agricultural trade | covid-19 impact | economic integration | manufacturing tariffs | non-tariff measures | preferential trade agreements | regional trade | tariff concessions | trade agreements | trade defence measures