Effect and Prospect of the Implementation of the RCEP Agreement on Textile and Garment Industry

Updated: 7/25/2022 4:21:28 PM

Abstract: The Regional Comprehensive Economic Partnership (RCEP) agreement took effect on January 1, 2022, which brought new opportunities for economic integration and development in East Asia, as well as significant benefits and institutional dividends for regional trade and investment in textile and garment industry. Since the agreement came into effect, China’s textile and apparel exports to Japan are expected to see a further increase. And the agreement will also further improve the international production division and cooperation between the textile and garment industry of China and ASEAN countries. Furthermore, RCEP will also have a positive and far-reaching impact on deepening the regional cooperation of industry and supply chains.

Key words: RCEP; textile and garment; tariff concessions; trade and investment

Authority in Charge: China National Textile and Apparel Council (CNTAC)

Sponsor :China Textile Information Center (CTIC)

ISSN 1003-3025 CN11-1714/TS