Zealand Rcep: Japan and Hiroaki Nakanishi

zealand rcep: Under the deal, Japan will see tariffs eliminated on 86% of items exported to China, 81% to South Korea and 88% to the countries of the Association of Southeast Asian Nations, Australia and New Zealand, according to The Japan Times. RCEP also sets common rules on e-commerce, intellectual property, customs and rules of origins. The signing is extremely significant toward realizing a free and open international economic order at a time when some countries are becoming inward-looking due to the novel coronavirus pandemic, said Hiroaki Nakanishi, chairman of Keidanren, Japan's largest business lobby. ; The Regional Comprehensive Economic Partnership, covering some 46% of Japan's total trade, will be the country's first trade deal with both China, its largest trading partner, and South Korea, its third largest. Due to the rules and lowering of tariffs, supply chains established by Japanese companies in Asia will become more broad, effective and resilient, Akio Mimura, chairman of Japan Chamber of Commerce and Industry, said in a statement. We hope RCEP members will tenaciously encourage India's return to the pact, which will contribute to strengthening supply chains encompassing the region, said Ken Kobayashi, chairman of the Japan Foreign Trade Council. The 15 signatories to the deal said Sunday the pact remains open for India, which has skipped all negotiations since late last year due to concerns about opening up its market to China, and included provisions that would facilitate the Southern Asian country's smooth participation should it decide to return to the pact. (news.financializer.com). As reported in the news.