(Photo: VGP)

The event, attended by economic ministers of 15 member countries, aimed to promote talks on the RCEP  signing of the agreement in late 2020 as ordered by RCEP leaders.

In his opening remarks, Minister Anh praised efforts by negotiators since the beginning of the year, noting that in-depth meetings and discussions have still taken place on schedule despite the prolonged COVID-19 outbreak.

Participating officials acknowledged that the pandemic’s negative impact has generated many challenges for trade and investment flows in the region, including the countries participating in the RCEP talks. They highlighted the need for the members to ensure their markets remain open, especially to essential goods and services, and to continue enhancing cooperation to effectively respond to COVID-19.
The ministers emphasised the significance of the RCEP agreement amid economic uncertainties caused by the pandemic, believing that the deal will strengthen the business community’s confidence, making the regional economic architecture more sustainable, and showing the region’s support for an open, comprehensive and rules-based multilateral trading system.

At the meeting, they also stressed the RCEP’s role in post-pandemic economic recovery, which will greatly help with stable growth of the global and regional economies.
Participants also recognised efforts and strides in the RCEP negotiations to date so that the deal can be inked at the RCEP Summit this November.

They re-affirmed that the RCEP negotiations will remain open to India, saying this country engaged in negotiations since the launch in 2012, and holds potential for contributing to common prosperity of the region.