Shipping and logistics firms anticipate huge gains from RCEP

The Regional Comprehensive Economic Partnership agreement will be a strong growth driver for the shipping industry,

logistics firms, and major ports, industry experts said.

Participating countries of the RCEP are the 10 member states of the

Association of Southeast Asian Nations, China, Japan, South Korea,

Australia, and New Zealand. They account for around 30 percent of the global population, global gross domestic product, and global trade.

Zhang Jun, a transportation analyst from Guosheng Securities,

said that more than 90 percent of China’s imports and exports are handled by the shipping sector,

and the significant increase in trade between China and other RCEP members will stimulate Chinese shipbuilding,

shipping industries, as well as major Chinese ports whose main business is international cargo.

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