RCEP expected to give boost to Czech exports
The Regional Comprehensive Economic Partnership (RCEP) Agreement, which was signed on November 15, is expected to open door for Czech enterprises to enter the world’s largest free trade area, according to Czech experts.
PM Nguyen Xuan Phuc witnesses the signing of RCEP on November 17 (Photo: VNA)Prague (VNA) – The Regional Comprehensive Economic Partnership (RCEP) Agreement, which was signed on November 15, is expected to open door for Czech enterprises to enter the world’s largest free trade area, according to Czech experts.
Miroslav Diro, spokesperson of the Czech chamber of commerce, said countries having clinched free trade agreements with the Czech Republic like Vietnam and the Republic of Korea can become a gate way for Czech enterprises to reach to the markets of 15 RCEP countries.
Meanwhile, Štěpán Hájek, an analysist of Purple Trading, said removing trade tariffs under the trade deal is a good sign for the Czech Republic’s open economy, particularly when the country is facing pressure from increasing protectionism.
He described the agreement as another advancement of the globalisation process, which is being threatened by the COVID-19 pandemic.
Luděk Procházka, Managing Director of Gerlach – the largest customs service provider in the Czech Republic, believed that European firms, including those in the Czech Republic, will see an increasing number of orders from RCEP member states./.
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