2022 High-level Forum for RCEP Economic and Trade Cooperation

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Mr. LU, Deputy Secretary of the Shandong Provincial Party Committee, Secretary of the Qingdao Municipal Party Committee,

Mr. LIU, Deputy Mayor of Qingdao Municipal People's Government,

Mr. ZHANG, Vice Chairman of the China Council for the Promotion of International Trade and the China Chamber of International Commerce,

Excellencies,

Distinguished guests,

Ladies and gentlemen,

I thank the China Chamber of International Commerce for the invitation to address this important event.

The Regional Comprehensive Economic Partnership (RCEP) agreement presents an opportunity for strengthened trade and investment relations and enhanced regional integration, allowing participating countries to accelerate progress towards the achievement of the Sustainable Development Goals (SDGs) and the implementation of the 2030 Agenda for Sustainable Development.

The agreement has been described by Premier Li Keqiang as “a victory for multilateralism and free trade.” Indeed with the entry into force of RCEP on 1 January 2022, came the establishment of the world’s largest free trade area. The agreement sees a new centre of gravity emerge, comprising 30% of global gross domestic product (GDP), trade and population.

Data from the World Bank shows that RCEP will cover 2.3 billion people, US$ 25.8 trillion of global GDP, US$ 12.7 trillion of global trade in goods and services, and 31% of global Foreign Direct Investment inflows. As global economic power shifts to the Asia-Pacific, spillover effects from RCEP also have the potential to offer benefits for participating and non-participating countries.

The entry into force of RCEP reflects well on the commitment of its participating countries, including Member States of the Association of Southeast Asian Nations (ASEAN) and ASEAN Free Trade Area partners, to resolve political and cultural barriers and thereby keep markets open.

A report published by the UN Conference on Trade and Development, said, “The agreement could help revive post-COVID economic growth, boost intra-regional trade and investment links at a time of global trade tensions, and provide a framework for further regional cooperation”. This analysis is encouraging.

The United Nations and its system in China stand ready to assist participating countries to realize this international agreement. We always stand ready to offer the UN’s expertise and technical support, to help ensure this multilateral partnership as with any other, aligns with relevant international norms and standards, including in the areas of labour rights, human rights and environmental sustainability.

In supporting the implementation of the United Nations Sustainable Development Cooperation Framework for the People’s Republic of China (UNSDCF 2021-2025), the UN Development Programme (UNDP), with technical support from the International Labour Organization (ILO), the UN Children’s Fund (UNICEF) and UN Women, jointly organized the second SDG-RCEP Seminar on 30 August 2021 with a focus on labour management. Participants included key associations, enterprises and civil society organizations in China. This activity is part of an ILO-led activity on the capacity development of Chinese institutions in the integration of Sustainable Labor Standards for international engagements.  

I also want to take this opportunity to once again congratulate China for the ratification of the ILO Forced Labour Convention and the Abolition of Forced Labour Convention.

In March 2022, a new initiative titled ‘Promoting Responsible Business Conduct of Chinese Overseas Investment for the Contributions to the SDGs’ was also launched by UNDP, UNICEF, ILO and UN Women. This effort focuses on the engagement of Chinese companies in overseas investments and business, via a scoping report, a stakeholder mapping exercise, a handbook, trainings, workshops and pilot projects.

The UN Industrial Development Organization (UNIDO) is also contributing through its mandate to support UN Member States in achieving inclusive and sustainable industrial development. Recently, the UNIDO Investment and Technology Promotion Office in Beijing and the Embassy of Sri Lanka in China co-organized the UN-China-South & Southeast Asian Countries Triangular Cooperation on Trade and Investment Facilitation Empowerment training event. The training seeks to enhance understanding of Chinese standards, provide market access, and bolster trade and investment cooperation between China and Sri Lanka, as well as other South & Southeast Asian countries.

Ladies and Gentlemen,

At the recent High-Level Political Forum on Sustainable Development, the UN Secretary-General António Guterres, said, “Our world is in deep trouble – and so too are the Sustainable Development Goals. Time is running out.  But there is still hope.”

Through the contribution of agreements such as RCEP, it is paramount that we now renew multilateralism, accelerate our progress in achieving the SDGs in the region and leave no one behind. Together we can realize the vision of the 2030 Agenda for a more just and sustainable world.

Thank you.