Santiago Metropolitan Region, Chile - Recent

Storyline:
Chile has officially submitted an application for joining the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement (FTA), looking forward to becoming the first Latin American country to join the pact, the country's foreign ministry said in a statement on Friday.

According to the statement, Chile has already reached agreements with most RCEP member countries, which will open up new opportunities for Chile's exports and deepening Chile's relations with Asia.

The application comes as the RCEP ends its first full year of implementation in June, during which it has promoted broader, higher-level and deeper regional cooperation and openness, while also bolstering confidence in the global economic recovery.

The RCEP was signed in November 2020 by 15 Asia-Pacific countries - 10 ASEAN member states, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand. It aims to ultimately eliminate tariffs on over 90 percent of goods trading among its signatories over the next 20 years.

The RCEP entered into force on the first day of 2022.

It took effect on June 2, 2023 for the Philippines, confirming that the agreement has been in effect for all the 15 members.

The RCEP is the world's largest FTA in terms of population and economic scale, and has become a milestone for economic integration in the Asia-Pacific region.

According to data released by China's Ministry of Commerce, in 2023, trade within the RCEP rose to 5.6 trillion U.S. dollars, slightly surpassing the level of 2021, the year before the agreement took effect.

The agreement has enhanced industry and supply chain cooperation among the 15 member countries. The RCEP regions attracted 234.1 billion U.S. dollars in greenfield investments in 2023, up 29.8 percent, or 2.2 times, that of 2021.

Shotlist:
Santiago Metropolitan Region, Chile - Recent:
1. Various of national flag of Chile;
FILE: Chile - Exact Date and Location Unknown
2. Various of avocados on production line;
FILE: Chile - 2023
3. Various of workers picking cherries;
FILE: Valparaiso, Chile - Jan 20, 2018
4. Various of containers, vessels at port;
FILE: Haikou City, Hainan Province, south China - Date Unknown
5. Sign of China Customs;
6. Various of customs officers working;
7. Various of monitor showing RCEP certificate of origin;
8. Aerial shots of port scenes;
9. Truck carrying goods;
10. Aerial shot of goods on ship.

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