Ministers of 15 countries participating in the Regional Comprehensive Economic Partnership (RCEP) negotiations have affirmed their determination to sign the deal at the RCEP Summit this November.

The 10th RCEP Intersessional Ministerial Meeting

The 10th RCEP Intersessional Ministerial Meeting took place on June 23 via video conference under the chair of Viet Namese Minister of Industry and Trade Tran Tuan Anh. 

In his opening remarks, Anh highly appreciated the efforts the RCEP negotiators have made since the beginning of the year, stating that virtual meetings and in-depth discussions of RCEP negotiating parties have been carried out on schedule, especially in the context of the complicated COVID-19 outbreaks.

He affirmed that as the ASEAN Chair for 2020, Viet Nam has been working closely with ASEAN member states in maintaining the bloc’s leading role, while cooperating with six partner countries to accelerate the prompt finalization of RCEP negotiations and legal text reviews to prepare for the signing of the document in Ha Noi this November.

With the aim of achieving a high-quality and interest-balanced agreement, Viet Nam has actively participated in discussions and proactively proposed flexible solutions in many areas to resolve the existing problems between the parties while ensuring national interests, the official stated.

Amid the complicated pandemic and the emerging trend of trade protectionism, the ministers were well aware of the challenges facing the region and reiterated their determination to sign the RCEP at the fourth RCEP Summit in November 2020, in line with directions of the leaders of countries participating in RCEP negotiations. 

They also agreed that the signing of the RCEP in 2020 will deliver a message on the participating countries’ support for the multilateral trading system and enhanced economic integration among nations in the region, thus contributing to restoring economic activities and establishing a new normal in the whole region.

The meeting reached many important results in resolving the existing issues and promoting the completion of legal text reviews in preparation for the signing of the RCEP by the end of this year, creating the largest free trade area in the world by population/.