AT the Nanning International Railway Port in southern China’s Guangxi Zhuang Autonomous Region, containers of mini tillers are loaded onto the China-Vietnam freight trains, ready for their cross-border journey. The owner of these China-made mini tillers is Vu Quang Hai, who runs a farm machinery company in Vietnam. He has imported over 2,800 mini tillers from China since the Regional Comprehensive Economic Partnership (RCEP) agreement took effect Jan. 1, 2022. The RCEP, the world’s largest free trade deal to date, covers 10 member states of the Association of Southeast Asian Nations (ASEAN) and its five free trade agreement partners, namely China, Japan, South Korea, Australia and New Zealand. The RCEP countries account for roughly 30% of the world’s gross domestic product and population. Over 90% of trade in goods among approved member states will gradually be tariff-free. “The RCEP has brought tangible benefits to merchants engaging in cross-border trade like me. Those tillers are rather popular in Vietnam, and my business is doing better than ever,” said Vu Quang Hai. The convenient and affordable cross-border rail transport has also facilitated the business, said Vu Quang Hai. Qin Yufang, who works with China Railway Nanning Group Co., said that demand for cross-border railway freight transportation between China and ASEAN countries has been booming this year. “A total of 57 Vietnam-bound freight trains departed from China in the first quarter of the year, registering a sharp increase of 128%. And over 20 new types of goods, including glass, farm machinery, and biscuits, have joined the trip,” said Qin. Besides tariff reduction, the free trade pact also plays a positive role in expanding market access for investment, harmonizing rules and regulations, streamlining customs procedures, and setting standard rules concerning the development of e-commerce and small and medium-sized firms. (Xinhua) | 