(VOVWORLD) - The Regional Comprehensive Economic Partnership (RCEP) was part of Vietnam’s success as ASEAN Chair in 2020, Deputy Minister of Industry and Trade Tran Quoc Khanh says.
 Deputy Minister of Industry and Trade Tran Quoc Khanh (Photo: VNA) |
As Chair of ASEAN and the RCEP ministerial meeting, Vietnam worked with member countries to resolve problems and conclude negotiations, and will sign the deal on the sidelines of the 37th ASEAN Summit this November.
On the sidelines of the economic ministerial-level consultation meetings between ASEAN and its partners on Wednesday, Khanh discussed ASEAN’s priorities in economic cooperation and the ratification and implementation of RCEP.
With the COVID-19 pandemic ravaging the region, damaging its economy, and disrupting the regional supply chain, ASEAN and its partners want RCEP to take effect early in 2022 to boost trade and investment recovery.
RCEP members are currently completing ratification of the deal, which will take effect 60 days after at least six ASEAN countries and 3 partners have submitted their ratification documents to the ASEAN Secretary General. Vietnam intends to ratify the deal by this November.