ঢাকাসোমবার , ১৮ অক্টোবর ২০২১
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আজকের সর্বশেষ সবখবর

What is the Relevance of RCEP Trade Deal for Bangladesh?

জাহিদ হাসান
অক্টোবর ১৮, ২০২১ ৯:০৪ পূর্বাহ্ণ
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From the very dawn of 21st century, Asian economies are thriving with their growing economic muscles. With the pace of changing geopolitical and geo-economic contours, the region is going through a dynamic changes ranging from diplomacy to economics. Signing the Regional Comprehensive Economic Partnership Agreement (RCEP) is the prime example of the ongoing dimensions. Setting the purposes of boosting economic perimeter of the post-pandemic situation, the agreement is remarkable from institutional as well as structural point of view, though it has some underlying pitfalls of negligence of agriculture and climate change issues. Notably, the deal specifically has some implications. It has come to the moment when Bangladesh is heading towards a developing nation giving priority on economic diplomacy. Against this backdrop, this paper is designed to scrutinize the very significance of the deal and explore the opportunities Bangladesh can reap from it.

Regional Comprehensive Economic post-pandemic growth. The trade deal is Partnership Agreement (RCEP) was also viewed as a step towards a new signed on November 15, 2020 as the world order which is predicted to be world’s largest plurilateral trade dominated by Asia. There is no denying agreement consisting of fifteen countries the fact that it will obviously make effects China, Japan, South Korea, Australia and on the regional trade architecture. From New Zealand, and 10 members of the Bangladesh perspective, a question arises: ASEAN, which has virtually created the how does it matter for Bangladesh and its world’s largest trading bloc that promises economic diplomacy when the country is to help speed up the members’ making efforts to graduate from LDC to Developing Nation (DC) status by 2024. Against this backdrop, this brief examines the significance of RCEP and assesses its implications for Bangladesh.

What is RCEP?

RCEP is an understanding that goes past exchange and levy advancement, into participation in spaces of web based business, expulsion of specialized hindrances to exchange and non-duty obstructions and setting of normal guidelines and different measures to advance intra-territorial exchange and venture. The thought is to exploit relative benefits through drives to advance and cultivate further monetary combination. It will continuously bring down levies and expects to counter protectionism, help speculation and permit more liberated development of products inside the area. The RCEP region constitutes about 40% of global trade and 2.2 billion consumers. It is estimated that RCEP will add US$200 billion to global GDP annually by 2030 and 0.2% to its member countries GDP. Together, they account for around 30% of the world’s gross domestic product and population. The RCEP brings together 15 APEC countries, including China, Japan and South Korea. It covers 28% of global trade and 50% of textile and apparel exports, valued at $374 billion and one-third of the world’s population.

RCEP was officially proposed in 2012. Progress was particularly delayed in the early years, yet the conversations acquired force after Donald Trump turned into the U.S. president in 2017 lastly it was endorsed on November 15, 2020. The understanding, which the individuals portrayed as “current, complete, superior grade, and helpful together,” incorporates 20 parts of rules covering everything from exchange merchandise, venture and internet business to licensed innovation and government obtainment. Such economic deals frequently achieve expanded intra-local and extra-local speculation just as trade of innovation which works with the making of a powerful worth chain and an inescapable creation organization. Aside from that, the web based business section expects to upgrade buyer security and protect individual data, just as advance acknowledgment of electronic marks.

এই সাইটে নিজম্ব নিউজ তৈরির পাশাপাশি বিভিন্ন নিউজ সাইট থেকে খবর সংগ্রহ করে সংশ্লিষ্ট সূত্রসহ প্রকাশ করে থাকি। তাই কোন খবর নিয়ে আপত্তি বা অভিযোগ থাকলে সংশ্লিষ্ট নিউজ সাইটের কর্তৃপক্ষের সাথে যোগাযোগ করার অনুরোধ রইলো।বিনা অনুমতিতে এই সাইটের সংবাদ, আলোকচিত্র অডিও ও ভিডিও ব্যবহার করা বেআইনি।
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