Minister of Industry and Trade Tran Tuan Anh chairs the video conference on the RCEP on June 23 (Photo: VNA)Hanoi (VNA) - Ministers fromcountries participating in negotiations over the Regional ComprehensiveEconomic Partnership (RCEP) gathered at the 10th intersessional meeting held inthe form of a video conference on June 23 under the chair of Vietnam’s Ministerof Industry and Trade Tran Tuan Anh.
In his opening remarks, Minister Anh spokehighly of negotiators’ efforts since the beginning of the year, noting thatin-depth meetings and discussions have been held online and on schedule throughoutthe COVID-19 pandemic.
He affirmed that as ASEAN Chair in 2020, Vietnamhas been working closely with other member countries to maintain the bloc’sleadership and close cooperation with the six partners, to acceleratefinalising the RCEP talks and the legal review of the deal’s wording so that itmay be signed in Hanoi in November.
With the aim of achieving a high-qualityagreement that balances all interests, Vietnam has actively engaged indiscussions and proactively proposed flexible solutions in many areas so as to addressdifferences among parties while still ensuring their own national interest, headded.
Participating ministers pointed out theunprecedented challenges facing global trade, investment, and supply chains dueto the coronavirus outbreak.
Therefore, they said, it is necessary to enhancecooperation to promote strong and flexible economic recovery, along withsustainable, balanced, and comprehensive growth in the post-pandemic period.
Facing the pandemic and emerging tradeprotectionism, the officials reiterated their determination to sign the RCEP atthe fourth RCEP Summit in November.
They shared the view that the deal being signedin 2020 would show that participating countries support a multilateral tradingsystem and stronger economic integration among regional countries, therebyhelping to resume economic activities and set up a “new normal” across theregion.
Looking at India’s engagement in the RCEP, theofficials held that the country has been an important party in negotiations,which began in 2012.
Its participation would contribute to progressand prosperity in the entire region, they said, stressing that the RCEP remainsopen for India to return.
Initiated by ASEAN in 2012, the RCEP is a freetrade agreement among the ten member countries of the bloc and six partners - China,India, Japan, the Republic of Korea, Australia, and New Zealand. Once signed,it would create one of the largest free trade areas in the world./.
