RCEP contributes to region's post-pandemic recovery efforts: ASEAN ministers
The Regional Comprehensive Economic Partnership (RCEP) can contribute to the region's post-COVID-19 pandemic recovery efforts, according to an Association of Southeast Asian Nations (ASEAN) joint statement released on September 18.
Minister pose for group photo at the 54th ASEAN Economic Ministers' Meeting. (Photo:ASEAN.org)
Hanoi (VNA) - The Regional Comprehensive Economic Partnership (RCEP) can contribute to the region's post-COVID-19 pandemic recovery efforts, according to an Association of Southeast Asian Nations (ASEAN) joint statement released on September 18.
The statement was issued following an RCEP Ministers' Meeting held in northwest Cambodia's Siem Reap province, on the sidelines of the 54th ASEAN Economic Ministers' Meeting.
The meeting welcomed the entry into force of the RCEP agreement on January 1, 2022, and looked forward to its ratification by all signatory states, it said.
According to the statement, the meeting shared the view that the RCEP could contribute to the region's post-pandemic recovery efforts and to creating a more resilient supply chain. In this regard, it highlighted the need to promote greater utilisation of the RCEP agreement to deepen regional economic integration.
In the meeting, the ministers noted the progress of the work of the RCEP Joint Committee and welcomed the establishment of subsidiary bodies under the Joint Committee’s supervision.
They also looked forward to the expeditious establishment of the RCEP Secretariat, on terms to be agreed by the parties, to provide secretariat and technical support to the RCEP Joint Committee and its subsidiary bodies, the statement said.
Coming into effect in January 2022, RCEP comprises regulations on digital trade, including cross-border data transfers, protection of transactions and online consumers, while providing an opportunity to strengthen the digital commerce business environment for small and medium-sized enterprises (SMEs) in Asia.
The agreement, gathering the 10 ASEAN member nations and Australia, China, Japan, New Zeal💦and and the Republic of Korea, will cover a market of 2.2 billion people, accounting for about 30 percent of the world’s♐ population, and a total GDP of 26.2 trillion USD./.
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Heads of ASEAN member economies have agreed to create a mechanism to promote competition, create an environment conductive for regional SMEs to enter ASEAN amid economic recovery from COVID-19 crisis.
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Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
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The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
VAMAF President Datuk Shaharuddin Omar shared the plan at the association’s 103rd anniversary ceremony, noting support from the Vietnam Veterans Association. The initiative is expected to open new markets for Malaysian Halal products and improve livelihoods for its members.
Minister pose for group photo at the 54th ASEAN Economic Ministers' Meeting. (Photo:ASEAN.org) 
