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RCEP's Impact on the Global Photovoltaic Market

Views: 61     Author: Site Editor     Publish Time: 2020-11-19      Origin: Site

  On November 15, 2020, 10 ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand formally signed RCEP, marking the formal conclusion of the largest free trade agreement in the world. However, as an important photovoltaic market, India was absent from this RCEP signing meeting.

  After the signing of the RCEP, the scope of goods covered by the reduced tariffs on trade in goods reached more than 90%.

  The 15 member states of RCEP have a population of 2.2 billion, a total GDP of 25.6 trillion U.S. dollars, a regional export value of 5.6 trillion U.S. dollars, attracting foreign investment of 370 billion U.S. dollars, and these indicators account for about 30% of the global total. Therefore, the signing of RCEP will mean the birth of a "super economic circle" with the largest population, the largest economic and trade scale, and the most development potential in the world. It is believed that under the promotion of RCEP, photovoltaics will be expected to enter the "zero tariff" era.


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