A host of projects involving tourism, talent training, healthcare and foreign trade were signed during the 2023 High-Level Forum for RCEP Economic and Trade Cooperation, which was held on Thursday in Qingdao, Shandong province. [Photo provided to chinadaily.com.cn]

"The RCEP has brought favorable conditions for Cambodia in attracting more foreign investment and expanding trade with other RCEP members," she said.

At the beginning of this month, with the activation of the Philippines, 15 members have assembled, and the world's largest free trade zone has entered the stage of full implementation.

Shi Zhongjun, secretary-general of the ASEAN-China Center, said in a video speech that the RCEP incorporates a series of institutional innovations such as cumulative rules of origin, back-to-back certificates of origin and approved exporter qualifications.

"These policies not only help regional enterprises significantly reduce costs and improve trade efficiency but also further strengthen industrial and supply chains integration among member states," he said.

During the forum, participants witnessed the signing of the Qingdao Initiative on Chinese Business Community on Promoting the Construction of the RCEP Mechanism and Sharing the Fruits of Regional Cooperation, and the Declaration for the Action on "Sharing RCEP Benefits and Promoting the High-Quality Development" via Trade Promotion System in Nine Provinces (Autonomous Regions) Along the Yellow River.

Qingdao is making great efforts to seize opportunities brought by the RCEP. The city's Shibei district is home to the RCEP Shandong Enterprise Service Center, the first comprehensive business service platform in China focusing on RCEP economic and trade cooperation.