Malaysia to Lead RCEP Summit Under Anwar Ibrahim's Guidance
Malaysian Prime Minister Anwar Ibrahim plans a summit of the Regional Comprehensive Economic Partnership in October. As the world's largest trade bloc, RCEP's meeting aims to accelerate its implementation and demonstrate Asia's commitment to openness. Key members include China, Australia, Japan, and ASEAN nations.
Prime Minister Anwar Ibrahim of Malaysia has announced plans to convene a Regional Comprehensive Economic Partnership (RCEP) summit in October, according to local media. The RCEP, recognized as the world's largest trade bloc, is supported by China and includes 15 Asia-Pacific economies, notably Australia, Japan, and South Korea, alongside New Zealand and the 10-member Association of Southeast Asian Nations (ASEAN).
This move by Malaysia, currently holding the ASEAN chair, aligns with the upcoming leaders' summit involving regional partners happening in the same month. Anwar Ibrahim emphasized the summit's goal to evaluate progress, expedite implementation, and highlight Asia's commitment to openness despite global inward trends, as reported by The Star.
The RCEP, effective since 2022, seeks to reduce tariffs, enhance investment opportunities, and facilitate freer goods movement across its participating regions.
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