RCEP can release potential of region’s blue economy

January 10, 2025

BEIJING – Establishing smooth marine economy connectivity between China and the Association of Southeast Asian Nations will facilitate the sustainable development of both sides and foster the new regional maritime cooperation paradigm of “leading governance through collaboration”.

In March 2023, the China Institute for Reform and Development, in collaboration with some think tanks based in ASEAN member states, launched the “Initiative to Promote China-ASEAN Blue Economy Integration”. Accelerating the process of establishing maritime-economic connectivity between China and ASEAN and promoting the efficient allocation of marine resources will unlock the growth potential of the regional blue economy, helping build a new pattern of blue economic integration between China and the Association of Southeast Asian Nations.

The deepening trade cooperation between China and ASEAN has strengthened the demand for better, smoother marine economy connectivity between the two sides, especially because maritime transport accounted for more than 94 percent of China’s foreign trade and over 60 percent of ASEAN’s foreign trade, and 65 percent of China-ASEAN trade in 2023. Hence, the marine economy has become particularly crucial for the sustainable development of both China and ASEAN.

Since the marine economy contributed only 7.9 percent to China’s GDP compared with about 20 percent to ASEAN’s GDP, the two sides need to leverage connectivity to use their complementary advantages to develop a “blue engine” for economic growth.

However, ASEAN member economies lag in infrastructure development. For instance, ASEAN economies account for only three of the world’s top 20 ports. Limited port accessibility, the absence of cooperation