15 Asia-Pacific nations including Myanmar sign RCEP, world’s biggest Regional Trade Agreement
Daw Aung San Suu Kyi, State Counsellor of the Republic of the Union of Myanmar, participated in the 4th Regional Comprehensive Economic Partnership (RCEP) Summit and Closing Ceremony of the 37th ASEAN Summit and related Summits which were held via videoconference yesterday from the Ministry of Foreign Affairs, Nay Pyi Taw.
The 4th Regional Comprehensive Economic Partnership (RCEP) Summit was chaired by Mr Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Viet Nam in his capacity as the Chair of ASEAN in 2020 and attended by Leaders of ASEAN Member States, Australia, China, Japan, the Republic of Korea and New Zealand.
During the Summit, the Leaders stressed that the RCEP Agreement is critical for the region’s response to the COVID-19 pandemic and will play an important role in building the region’s resilience through inclusive and sustainable post-pandemic economic recovery process. They acknowledged that the RCEP Agreement is the most ambitious free trade agreement initiated by ASEAN, which contributes to enhancing ASEAN centrality in regional frameworks and strengthening ASEAN cooperation with regional partners. They also expressed their commitment to ensuring that RECP remains an open and inclusive agreement.
In her statement, the State Counsellor stressed that the landmark trade pact will serve as a strong signal to the world that we are committed to maintaining the credibility of regional cooperation architecture, retaining the trust of business community and contributing to regional economic recovery. She also added that the RCEP will provide a new driving force which will accelerate the facilitation of trade and investment as part of a well-functioning, highly efficient, rules-based multilateral trading system. She concluded by stressing that Myanmar will exert utmost efforts to realize the full implementation of the provisions contained within the RCEP Agreement.
The RCEP Summit was followed by the Signing Ceremony of the RCEP Agreement in which the State Counselor witnessed the signing of the Agreement by Union Minister for the Ministry of Investment and Foreign Economic Relations U Thaung Tun on behalf of the Republic of the Union of Myanmar. The RCEP Agreement signed by (15) Asia-Pacific nations represents almost 30 per cent of the world’s population, 30 per cent of global GDP, and close to 28 per cent of global trade.
The State Counsellor also attended the Closing Ceremony of the 37th ASEAN Summit and related Summits and Handing Over of the ASEAN Chairmanship to Brunei Darussalam in the afternoon. At the Ceremony, the Prime Minister of the Socialist Republic of Viet Nam delivered his Closing Remarks and handed over the ASEAN Chairmanship Gavel to the Ambassador of Brunei Darussalam to Viet Nam. The Closing Ceremony concluded with the remarks of His Majesty the Sultan of Brunei Darussalam, the Chair of ASEAN in 2021.
Together with the State Counsellor, Union Minister for Investment and Foreign Economic Relations U Thaung Tun and Union Minister for International Cooperation U Kyaw Tin were present at the 4th Regional Comprehensive Economic Partnership (RCEP) Summit and Closing Ceremony of the 37th ASEAN Summit and related Summits.—MNA