RCEP signing will benefit energy commodity trade

Recently, the Fourth Regional Comprehensive Economic Partnership Agreement (RCEP) was officially signed after eight years of long negotiations.

"The main benefits of the signing of RCEP are in two aspects: one is the gradual reduction of tariffs and non-tariff barriers, and the other is that the level of openness in goods trade has reached more than 90%, covering a wider range of products.

"One of the highlights of this agreement is the accession of China, Japan, South Korea and Australia.

According to statistics from Zhuo Chuang Information, in the first three quarters of this year, China's total natural gas supply was 241.

Liang Yingying believes that through the signing of RCEP, China, Japan, Japan and South Korea are expected to establish a new free trade partnership, and the degree of free trade within the region will be further enhanced.

It is understood that light cycle oil (LCO) is a 100% imported variety, mainly used as a regulating component of diesel.

At present, China's imports of base oil from East Asian countries also have varying degrees of tariffs, and imports from South Korea and Singapore account for 70% of the total imports.

If tariffs between countries in the region are reduced or eliminated, it will bring certain cost advantages to the import of asphalt.

　　It is understood that China’s petroleum coke currently imports more needle coke, mainly because some of the high-end technology of needle coke is currently lacking in China, and the largest source of imports is South Korea.
"If there is no significant technological breakthrough, the import of needle coke is just a rigid demand.
Once tariffs are reduced or even cancelled, China's needle coke imports are expected to expand.
At the same time, once the tariff barrier is gone, domestic ordinary petcoke is also expected to open up export channels.
Start export operations to East Asian countries.
" Li Yan said.

Transfer from: Chemical Network

　　[Copyright and Disclaimer] All copyrighted works belonging to this website must be authorized when reprinting and indicate the source "China Industrial Economic Information Network".
Offenders of this website will reserve the right to pursue relevant legal responsibilities.
Any reprint of articles and corporate publicity information only represents the author's personal views, and does not represent the views and positions of this website.
For copyright matters, please contact: 010-65363056.

Further reading