KUALA LUMPUR: Hong Kong, Sri Lanka, Chile and Bangladesh have expressed their interest in joining the Regional Comprehensive Economic Partnership (RCEP), with ASEAN Economic Ministers (AEM) urging officials to expedite the accession process.
In a joint statement issued after the 57th ASEAN Economic Ministers Meeting here today, the ministers highlighted that expanding the RCEP membership would further strengthen, enhance and diversify economic linkages with external partners, in line with the Global ASEAN Strategy.
"The AEM reaffirmed its full commitment to play a central role in strengthening the effective and full implementation of the RCEP agreement amid the continued uncertainty in the global trade environment.
"The meeting welcomed the full operationalisation of the RCEP Support Unit and its efforts in providing support to the RCEP Joint Committee and its subsidiary bodies," the statement said.
Additionally, ASEAN has reiterated its determination to broaden and diversify economic linkages under the Global ASEAN Strategy.
An ASEAN-led initiative, the RCEP involves 15 countries, including all 10 ASEAN members and five key partners, namely China, Japan, South Korea, Australia and New Zealand.
The ministers also welcomed the Joint Declaration on Economic Cooperation between ASEAN and the Gulf Cooperation Council (GCC), adopted at the second ASEAN-GCC Summit on May 27.
The joint declaration called for sectoral collaboration and a joint feasibility study on a potential ASEAN-GCC Free Trade Agreement.
Meanwhile, ASEAN would also intensify efforts to concretise cooperation with the European Union and work towards an ASEAN-Comprehensive and Progressive Agreement for Trans-Pacific Partnership Dialogue.
"These developments mark a new chapter in ASEAN’s engagement with external partners and open new opportunities for trade, investment, and sustainable development between the regions.
"The AEM recognised the importance of such efforts in reinforcing ASEAN’s resilience and adaptability in a rapidly evolving global landscape,” the statement added. - Bernama
