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China will be able to fully fulfill its obligations under the
agreement of the Regional Comprehensive Economic Partnership when it
enters into force, a commerce official said. All 15 members of the RCEP are planning to ratify the agreement
before the end of 2021 and push for its entry into force on Jan 1 next
year, said Yu Benlin, director-general of the department of
international economic and trade affairs at the Ministry of Commerce. China has completed the approval and became the first country to
ratify the agreement, he said, adding Thailand has also ratified the
agreement. All member parties will convene intensive meetings to report on the
progress of their respective approvals this year, he said. The ministry
and relevant departments have sorted out the agreements involved 701
binding obligations of the Chinese side. Through the efforts of various government branches such as the
National Development and Reform Commission and the General
Administration of Customs, China's preparations for implementation of
613 items have been completed, accounting for 87 percent of all
obligations. The official said preparation for other items can also be concluded before the implementation of the agreement.
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