Young entrepreneurs are expected to play a major role in helping implement the Regional Comprehensive Economic Partnership agreement, promoting international economic and trade cooperation and facilitating the development of the digital economy, participants said at the RCEP Youth Dialogue on Friday.
The digital economy is an important area of trade and investment under the RCEP agreement, which has created favorable conditions for strengthening the growth of digital trade among RCEP member countries, said Li Xiaodong, founder of the Fuxi Institution and research fellow at the Institute. Computing Technology of the Chinese Academy of Sciences.
Li noted that small businesses have become a major force in developing the digital economy while highlighting their importance in strengthening international cooperation in the area of the digital economy and promoting the growth of regional trade.
Xu Xiujun, a researcher and director of international political economy at the Chinese Academy of Social Sciences Institute of World Economics and Politics, said that young entrepreneurs have an international perspective, have the courage to expand cross-border investment and trade business, and are proud of their awareness of innovation and development. competition.
“They will play a positive role in promoting liberalization and facilitating investment and trade, strengthening the cross-border flow of labor, goods, capital and data of the RCEP member countries, as well as exploring new ways and areas of cooperation and cultivating new growth areas, including the digital economy, green energy and agriculture modern,” said Xu.
The RCEP agreement, which entered into force on Jan 1, includes 15 Asia-Pacific economies: China, Japan, South Korea, Australia, New Zealand and 10 member countries of the Association of Southeast Asian Nations. It established the world’s largest free trade organization by promoting regional economic integration through tariff agreements and other trade and investment liberalization and facilitation measures.
The RCEP region covers a market of 2.2 billion people, or about 30 percent of the world’s population, with a combined GDP of $26.2 trillion or about 30 percent of global GDP, comprising about 28 percent of trade international.
The implementation of the RCEP agreement has brought not only great investment and trade opportunities but also significant opportunities for innovation and entrepreneurship, said Kuang Xianming, vice president of the China Institute for Reform and Development.
Kuang said young entrepreneurs have great potential in driving innovation and business among RCEP member countries and should use their advantages in technological innovation in areas such as environmental protection, new energy, innovation, cross-border commerce, cloud computing, big data and artificial intelligence.
With the blossoming of 5G, big data, artificial intelligence and other new digital technologies, the digital economy is gradually becoming a key force to promote economic growth.
Kuang called for efforts to speed up the construction of digital infrastructure, increase international cooperation in the digital economy and emerging industries, and establish ways to support innovation and young people’s businesses.
