DigitalCFO Newsroom | 24 June 2022
“New Frameworks: RCEP’s Critical Role in Driving the Asian Digital Economy” webinar on June 22 explored the impacts of the world’s largest trade agreement and how it will shape the future of the region.
Six months after the Regional Comprehensive Economic Partnership (RCEP) came into force, Cheung Kong Graduate School of Business (CKGSB), in collaboration with Asia House, the Malaysian Chamber of Commerce in China and Indonesian Business School, Prasmul-Eli, hosted the webinar, “New Frameworks: RCEP’s Critical Role in Driving the Asian Digital Economy” on June 22 to explore the impacts of the world’s largest trade agreement and how it will shape the future of the region. The event featured Vietnam’s Vice Minister of Industry and Trade, Tran Quoc Khanh, the Deputy Secretary-General for ASEAN Economic Community, Satvinder Singh, and CKGSB’s Founding Dean and Professor of China Business and Globalization, Xiang Bing.
Khanh, started with a speech outlining the significance of RCEP, saying, “It is the most comprehensive free-trade agreement ASEAN has ever signed. RCEP is also the first free-trade agreement that ASEAN have signed with a stand-alone chapter on ecommerce.”
Xiang following by saying, “China has been the largest trading partner of Korea for the past 18 years, Japan for 15 years, ASEAN and Australia for 13 years – so there is already very extensive integration of economies in the region. We have a great foundation for going forward.”
Singh was also optimistic, saying, “It is one of the most comprehensive forward looking, advanced free trade agreements that we have, not only in terms of market coverage, but in terms of the scope of issues it covers.”
Two panel discussions followed, diving deeper into how Southeast Asia will benefit from digitized and streamlined financial transactions and the resulting impact on data sharing and regional supply chains and how the agreement will facilitate trade and the growth of start-ups and small and medium-sized enterprises.
Panelists included Li Haitao, Dean’s Distinguished Chair Professor of Finance and Associate Dean at CKGSB; Vince Iswara, CEO and Co-Founder, DANA Indonesia, Treasurer at Indonesian Payment System Association (ASPI); Allan Gepty, The Philippines’ Assistant Secretary for Industry Development and Trade Policy, Department of Trade and Industry; Hanim Hamzah Regional, Managing Partner at ZICO Law, Head of the Corporate M&A Practice at Roosdiono & Partners; Raymond Yee Woon Ming, Vice President for Customs and Regulatory Affairs, DHL Express Philippines; David Hardoon, Chief Data and AI Officer at Union Bank of the Philippines, Chief Data Officer at UnionDigital.