Advanced industrial chains to be expanded

Favourable terms: In this file photo, a worker is seen checking a robot to be exported to the Middle East at the Chuangze robot factory in Gansu province. The RCEP has encouraged China-based manufacturers to ship more goods to other markets. — AFP

BEIJING: The tangible growth momentum generated by the Regional Comprehensive Economic Partnership (RCEP) agreement will help build advanced integrated industrial chains and grow a colossal consumption market in the Asia-Pacific region in the coming years, government officials and corporate executives say.

In the face of a complex global business environment, they said the pact allowed member countries to choose solidarity and cooperation when facing challenges such as the Covid-19 pandemic and rising commodity prices, instead of resorting to conflict or confrontation.