BRI In The Light Of Regional Comprehensive Economic Partnership Presented by: Bin Li (Beijing Normal University) Date: February 15, 2022 What We Know About BRI - Constructive contribution to the reform of the current global governance system and to economic globalization. (The Belt and Road Initiative Progress, Contributions and Prospects, by the Office of the Leading Group for Promoting the Belt and Road Initiative, 2019) What We Know About RCEP  Regional Comprehensive Economic Partnership (RCEP) Agreement  The world's largest free trade area.  Rule-based cooperation: SEEKING to establish clear and mutually advantageous rules to facilitate trade and investment, including participation in regional and global supply chains; (Preamble, para 4)  An ASEAN-led agreement: Negotiations for the RCEP will recognize ASEAN Centrality in the emerging regional economic architecture. ASEAN Community Vision 2025 Integrating Countries, Integrating Development 1. Political-Security Community 2. Economic Community 3. Socio-Cultural Community RECP - The RCEP agreement will also have an open accession clause any other external economic partners after the completion of the RCEP negotiations. (Guiding Principles and Objectives for Negotiating the Regional Comprehensive Economic Partnership) - RCEP remains open for India. (Joint Media Statement of the 10th Regional Intersessional Ministerial Meeting, 2020) - Leading objective: establish a modern, comprehensive, high-quality, and mutually beneficial economic partnership framework [......], taking into account the stage of development and economic needs of the Parties especially of Least Developed Country Parties. (Article 1.3 (a) ) - RCEP Agreement does not contain Investor- State Dispute Settlement provisions. - It includes a built-in work program for Parties to enter into discussions in future. China's Implementation Of The RCEP Announcement of the Guiding Opinions on the implementation of the RCEP (Jan. 24, 2022) Some key words: 1. RCEP as a chance 2. High-level opening 3. Network of free trade zones on high standards 4. Global competitiveness What Prof. Li Guess On The Relationship Between BRI And RCEP 1. Agreement on economic and trade cooperation between the Eurasian Economic Union and its members States, of the One Part, and the People's Republic of China, of the other part. (2018) 2. Preamble: "the importance of the conjunction of the Eurasian Economic Union and the Belt and Road Initiative as a means of establishing strong and stable trade relations in the region".