Ministers meet to promote RCEP signing by year’s end
The 8th Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting was held online on August 27 under the chair of Vietnamese Minister of Industry and Trade Tran Tuan Anh.
The Vietnamese side at the teleconferenced 8th RCEP Ministerial Meeting on August 27 (Photo: VNA)
Hanoi (VNA) – The 8th Regional ComprehensiveEconomic Partnership (RCEP) Ministerial Meeting was held online on August 27under the chair of Vietnamese Minister of Industry and Trade Tran Tuan Anh.
The event, attended by economic ministers of 15member countries, aimed to promote talks on the RCEP towards the signing ofthis agreement in late 2020 as ordered by RCEP leaders.
In his opening remarks, Minister Anh highlyvalued efforts by negotiators since the year’s beginning, noting that in-depthmeetings and discussions have still taken place on schedule despite theprolonged COVID-19 outbreak.
Participating officials acknowledged that thepandemic’s negative impact has generated many considerable challenges to tradeand investment flows in the region, including the countries participating inthe RCEP talks.
They highlighted the need for the members toensure that their markets remain open, especially to essential goods and services,and to continue enhancing cooperation to effectively respond to COVID-19.
The ministers emphasised the specialsignificance of the RCEP agreement amid economic uncertainties caused by thepandemic, believing that the deal signing will provide a basis forstrengthening the business community’s confidence, making the regional economicarchitecture more sustainable, and showing the region’s support for an open,comprehensive and rules-based multilateral trading system.
At the meeting, they also stressed the RCEP’srole in post-pandemic economic recovery, which will greatly help with stablegrowth of the global and regional economies.
Participants also recognised efforts and stridesin the RCEP negotiations to date so that the deal can be inked at the RCEPSummit this November.
In particular, they re-affirmed that the RCEPnegotiations remain open to India, saying this country engaged in negotiationssince the launch in 2012, and it holds potential for contributing to commonprosperity of the region.
The RCEP is a free trade agreement among the 10member states of ASEAN and its five partners, namely Australia, China, Japan, NewZealand, and the Republic of Korea. India withdrew from the talks inNovember 2019./.
The Regional Comprehensive Economic Partnership (RCEP) agreement, if signed, could contribute to the post-pandemic recovery in the region, with China's economic growth in the recent quarter being a "convincing reassurance" for ASEAN, said a Malaysian expert.
Professor Ryo Ikebe from the Senshu University of Japan has noted that Vietnam plays an important role in gathering voices of 10 ASEAN members in Regional Comprehensive Economic Partnership (RCEP) talks.
The negotiation process on the Regional Comprehensive Economic Partnership (RCEP) has entered its final round and the agreement is expected to be signed in the near future, Indonesian Deputy Minister of Trade Jerry Sambuaga said.
The Thai Ministry of Commerce will push the country’s Cabinet in October to consider signing the Regional Comprehensive Economic Partnership (RCEP) agreement.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
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Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
The Vietnamese side at the teleconferenced 8th RCEP Ministerial Meeting on August 27 (Photo: VNA) 
