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Vietnam Today

PM attends 2nd RCEP leaders' meeting

Released at: 15:22, 15/11/2018

PM attends 2nd RCEP leaders' meeting

PM Nguyen Xuan Phuc (1st, left) and other leaders of RCEP countries at the meeting on November 14 (Photo: VNA)

Second meeting on Regional Comprehensive Economic Partnership held in Singapore on November 14 as part of 33rd ASEAN Summit.

by Long Van

Addressing the second Regional Comprehensive Economic Partnership (RCEP) leaders’ meeting in Singapore on November 14, which took place within the 33rd ASEAN Summit, Prime Minister Nguyen Xuan Phuc said the RCEP needs to be in the form of a cooperation framework that fosters trade and investment, rendering common prosperity for the region, the Vietnam News Agency (VNA) reports.

Apart from the ten ASEAN member countries, the other RCEP signatories are Australia, China, India, Japan, New Zealand and the Republic of Korea. When inked, the RCEP will form the world’s largest trading bloc, making up one-third of the world’s GDP.

The Prime Minister said the efforts and results of RCEP negotiations in 2018 are incredibly important as current global trends towards protectionism and anti-trade liberalization are emerging, adding that this is an appropriate moment to hold the negotiations.

He pledged that Vietnam is willing to work with other countries to seek innovative and flexible solutions towards common goals and to boost the building of the RCEP into a comprehensive, high-quality agreement with balanced interests and that bridges the development gap among members.

Leaders of RCEP countries passed a joint statement at the meeting on the negotiations, lauding the substantial progress made this year to advance the talks and noting that negotiations are in their final stages.

They also reiterated their determination to achieve a modern, comprehensive, high-quality, and mutually-beneficial economic partnership agreement in 2019 as well as bolster regional trade development and investment, contributing to global economic growth and development.

During his stay in Singapore between November 13 and 15, Prime Minister Phuc also attended meetings related to the 33rd ASEAN Summit, including the ASEAN Plus Three Summit with China, Japan and the Republic of Korea, the East Asia Summit (EAS), and ASEAN Plus One Summits with China, the Republic of Korea, Japan, the US, India, Australia, and Russia, according to VNA.

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