RCEP leaders agree to sign trade pact in 2020

By：ASEAN Secretariat News Update：2019-11-12

ASEAN Leaders together with their counterparts from the five participating countries of Regional Comprehensive Economic Partnership (RCEP) agreed on the weekend in Bangkok to push forward with the world’s largest trade agreement.

With all 20 chapters of the Agreement already concluded along with essentially all market access issues, RCEP Participating Countries are committed to sign the RCEP Agreement next year.

“The conclusion of RCEP signifies ASEAN’s commitment and leadership in this process,” said ASEAN Secretary-General Lim Jock Hoi.

He further added that the RCEP has created a new traction to deal with current global uncertainties.

In the Joint Leaders’ Statement issued after the RCEP Summit, India said its final decision will depend on “satisfactory resolution” of its outstanding issues.

“RCEP will serve as an anchor for an open, stable, inclusive, and rules-based regional trade architecture at a time of uncertainties in global economic environment,” Secretary-General Lim said.