Singapore (VNA) – The Regional Comprehensive Economic Partnership (RCEP) , the world’slargest trade pact, officially came into effect on January 1.
The pact willprovide a boost to trade and business ties between Singapore and the RCEPparties, said Singaporean Minister for Trade and Industry Gan Kim Yong in apress release published on December 31.
He said thatmany Singaporean businesses indicated that they were keen to utilise the RCEP agreement when it enters into force.
The entryinto force of the agreementwill open up opportunities to catalyze the expansion of regional trade andinvestment much needed for economic recovery amid COVID-19, Secretary-General of the Association of Southeast Asian Nations (ASEAN) DatoLim Jock Hoi said in a recent interview.
Lim notedthat RCEP reinforces regional economic integration by expanding commonaccumulative rules of origin, simplified customs procedures, tradefacilitation, and coherent trade rules that provide greater transparency,fairness, and predictability for businesses.
For theAsia-Pacific region, RCEP is seen as an important step towards enhancedregional integration and a new impetus for free trade and multilateralism amid many uncertainties in the world.
Signed inNovember 2020, RCEP brings together 10 ASEAN member states, along with China,Japan, the Republic of Korea, Australia and New Zealand, covering 30 percent of theglobal gross domestic product (GDP) worth 26.2 trillion USD.
RCEP will form a market with 2.2 billion consumers, and become thelargest free trade area in the world in terms of population. It will eliminate tariffs on asmuch as 92 percent of goods traded between its signatories eventually, expandmarket access for investment, harmonise rules and regulations, and strengthenthe supply chains within the massive free trade zone.
RCEP isdesigned to cut costs and time for businesses to export goods to any of thesig🔯natories to the agreement without having to meet separate requirements ofeach country./.
ASEAN Secretary General Dato Lim Jock Hoi has hailed regional member states for approving the Regional Comprehensive Economic Partnership (RCEP), saying that the implementation of the agreement will provide a tremendous boost to post-COVID-19 economic recovery efforts.
The Regional Comprehensive Economic Partnership (RCEP) Agreement will officially take effect starting January 1 next year, according to the Ministry of Industry and Trade.
The Secretariat of the Association of Southeast Asia (ASEAN), together with the East Asia Business Council, has run the 5th round of the webinar series on the Regional Comprehensive Economic Partnership (RCEP).
With the Regional Comprehensive Economic Partnership (RCEP) agreement taking effect January 1, 2022, Japan and other member nations expect to revitalise the pandemic-hit economy through free trade in the economic bloc, regarded as the world's largest, covering about a third of the global economy, according to Japanese news agency Kyodo News.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
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.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
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.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Illustrative image. (Photo: AFP/VNA) 
