ASEAN economic ministers stated that expanding the Regional Comprehensive Economic Partnership (RCEP) membership would boost and diversify the bloc’s economic ties with external partners.
In a joint statement issued after the 57th ASEAN Economic Ministers (AEM) Meeting here on Wednesday (local time), the ministers said that they noted the interest from China’s Hong Kong, Sri Lanka, Chile, and Bangladesh to accede to the RCEP Agreement, and the meeting encouraged officials to expedite discussions to commence the accession process as soon as possible.
It also said that “The meeting welcomed the full operationalisation of the RCEP Support Unit and its efforts in providing support to the RCEP Joint Committee and its subsidiary bodies.”
The RCEP, the world’s largest free trade deal to date, covers 10 member states of ASEAN and its five free trade agreement partners, namely China, Japan, South Korea, Australia, and New Zealand, reports Xinhua news agency.
The ministers also welcomed the Joint Declaration on Economic Cooperation between ASEAN and the Gulf Cooperation Council (GCC), adopted at the second ASEAN-GCC Summit on May 27, urging sectoral collaboration and a joint feasibility study on a potential ASEAN-GCC Free Trade Agreement.
The AEM and related meetings run from September 22 to 26.
Earlier this month, officials from member states of ASEAN and partner countries convened in Laos to discuss and develop the plan of action for the ASEAN leaders’ declaration on strengthening regional biosafety and biosecurity.
They gathered for the second meeting on the establishment of the ASEAN Network on Biosafety and Biosecurity, as part of a region-wide effort to strengthen preparedness and response to future biological threats.
During the meeting, the participants outlined regional priorities, defined roles and responsibilities, and designated lead implementers and partners to drive coordinated efforts in preventing, detecting, and responding to biological threats, according to the Lao Ministry of Health.
