Shandong will seize the opportunities brought about by the signing of the Regional Comprehensive Economic Partnership agreement and further global trade growth, said local officials.

"Association of Southeast Asian Nations, Japan, South Korea, Australia and New Zealand are Shandong's important investment and trade partners," said a local official.

A freighter docks at the Port of Qingdao in East China's Shandong province. The port opened new routes to two RCEP-related destinations on Jan 19. [Photo by ZHANG JINGANG/FOR CHINA DAILY]

Official statistics show that in 2020, the value of trade between Shandong and RCEP member countries stood at 774.3 billion yuan ($119.78 billion), an increase of 12.6 percent over 2019, accounting for 35.2 percent of the city's total foreign trade.

The province will make good use of the rules and facilitation measures in the pact, the world's largest trade deal, to promote high-level opening-up and undertake more measures to stabilize foreign trade and investment so as to ensure steady industry and supply chains.

According to this year's Shandong Provincial Government Work Report, the province will build a local economic and trade cooperation pilot zone of RCEP. It will also host the RCEP small and medium-sized enterprise cooperation forum.

Meanwhile, it will continue to make good use of online business promotion channels to explore the international market and facilitate more cooperation with global partners.

Last year, amid the global pandemic, cities in Shandong launched a series of online business promotion activities and channels to attract investment and boost cooperation, which proved successful.

An online business promotional event is hosted by the "Select Shandong" platform with German companies and commercial organizations. [Photo/dzwww.com]

"Select Shandong", an online service platform for attracting global investment and talents launched by the Shandong Provincial Department of Commerce, held 24 online business fairs and road shows in 2020, with 326 projects promoted overseas and 104 receiving cooperation intention.

The online platform will also contribute to Shandong's efforts in expanding trade and cooperation with RCEP member nations, said local officials.