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Malaysia commits to ratify RCEP by year-end

Malaysian Prime Minister Ismail Sabri Yaakob said on his Twitter account on October 26 that at the 38th and 39th ASEAN Summits and Related Summits, Malaysia affirmed its strong commitment to ratify the Agreement. Regional Comprehensive Partnership (RCEP) in 2021.
Malaysia commits to ratify RCEP by year-end ảnh 1Malaysian Prime Minister Ismail Sabri Yaakob (Photo: VNA)
Kuala Lumpur (VNA) -  Malaysian Prime Minister Ismail Sabri Yaakobsaid on his Twitter account on October 26 that at the 38th and 39th ASEAN Summits andRelated Summits, Malaysia affirmed its strong commitment to ratify theAgreement. Regional Comprehensive Partnership (RCEP) in 2021.

He said the RCEP will help accelerate the recovery of theregion.

The same day, Malaysia's Senior Minister and Minister ofInternational Trade and Industry (MITI), Azmin Ali, said that theratification of RCEP will help Malaysian businesses access a large market in15 countries which contribute up to one-third of global GDP.

RCEP is the world's largest free trade agreement with a market thataccounts for nearly a third of the global population, or about 2.2 billionpeople. The 10 ASEAN member countries, along with China, Japan, the Republicof Korea, Australia and New Zealand signed the RCEP Agreement in November2020. For the agreement to come into force, it needs ratification by at least9 countries (including at least 6 ASEAN member countries and 3 non-ASEANcountries).

RCEP member countries have all expressed their determination toratify this agreement before the end of this year so that the agreement willenter into force on January 1, 2022 according to the set target./.
VNA
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