ASEAN Supports Hong Kong, Sri Lanka, Chile, and Bangladesh in Joining RCEP

KUALA LUMPUR, Sept 25 (VoM):ASEAN member states have voiced unanimous support for Hong Kong, Sri Lanka, Chile, and Bangladesh to join the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement.

Indonesia’s Vice Minister of Trade, Dyah Roro Esti Widya Putri, confirmed that accession talks are already in progress for the four economies.

“There are four countries in ascension. Hopefully, we will work through the accession working group, and of course, we are in support of any countries willing to join RCEP,” Dyah told reporters after the Fourth RCEP Ministers’ Meeting on Thursday.

She added that no objections had been raised by existing members, emphasizing that “everyone is in support.”

The ministers’ meeting was a highlight of the fourth day of the 57th ASEAN Economic Ministers (AEM) gathering in Kuala Lumpur.

Observers noted that RCEP could serve as a powerful tool for ASEAN and Malaysia to strengthen trade resilience amid global economic uncertainty, rising tariffs, and protectionist policies in the United States.

RCEP, which came into effect in 2022, currently comprises all 10 ASEAN nations along with China, Japan, South Korea, Australia, and New Zealand. The agreement covers a market of more than two billion people and represents about 30% of global GDP.

By lowering tariffs, enhancing investment flows, and facilitating freer movement of goods, RCEP has become a cornerstone of regional economic integration. The potential inclusion of Hong Kong, Sri Lanka, Chile, and Bangladesh is expected to further expand its reach and economic impact.

@voice of Malaysia news