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).
Jakarta (VNA) - The Secretariat of theAssociation of Southeast Asia (ASEAN), together with the East Asia BusinessCouncil, has run the 5th round of the webinar series on the RegionalComprehensive Economic Partnership (RCEP).
The discussions focused on competition, governmentprocurement, small and medium enterprises (SMEs), and the economic and technicalcooperation chapters of the agreement.
In her opening remarks, Sulaimah Mahmood, Senior Director ofthe ASEAN and Southeast Asia and Oceania divisions in Singapore’s Ministry ofTrade and Industry, stressed that it is important for businesses, particularlySMEs, in the region to familiarise themselves with RCEP.
As the deal will enter into force on January 1 next year,RCEP Participating Countries (RPCs) are intensifying their preparatory work atthe regional and domestic levels. On the regional level, RPCs are currentlyfinalising the necessary measures and institutional arrangements to ensureeffective and efficient implementation of the pact. They are also putting inplace necessary laws and regulations at the domestic level.
Participants of the event highlighted the opportunityprovided by RCEP to facilitate SMEs’ integration into the regional value chainand the potential impact on narrowing the development gap. In this regard,panellists and speakers agreed that tailor-made regulations are needed to helpSMEs to better integrate into the regional as well as global value chains.
They said that governments are expected to play a major rolein preparing SMEs to reap the benefits from RCEP and that improving the group’scapacity would be essential to enhance their competitiveness./.
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At the event (Photo: asean.org)
