The Regional Comprehensive Economic Partnership (RCEP) agreement for East Asia, which includes Japan, China, South Korea and ASEAN, came into effect on January 1, 2022. The agreement will create a huge economic zone that accounts for about 30% of the world's GDP. For Japan, this is the first FTA to be concluded with China and South Korea, and some estimates suggest that it will increase Japan's exports to the region by more than 5% compared to 2019.
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See AllOcean freight rates decreased via North America West Coast (-8.3% week-on-week), North America East Coast (-0.5%), Europe (-2.7%), and Korea (-3.4%). 海上運賃の推移は、北米西岸経由(前週比 -8.3%)、北米東岸経由(-0.5%)、欧州(-2.7%)
The Japan Air Freight Forwarders Association (JAFA) reported July air export consolidated shipments from Japan totaled 83,465 tons (-15.4% y/y) and 822,151 shipments (-8.3% y/y). The weight of cargo d
Ocean freight rates increased via the West Coast of North America (+0.5% week-on-week) and South Korea (+1.9%). Freight rates via the East Coast of North America (-0.8%) and Europe (-3.3%) decreased.