On September 17, the first ministerial meeting after the entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP) was held in Siem Reap, Cambodia. Wang Shouwen, International Trade Negotiator and Vice Minister of the Ministry of Commerce, attended the meeting and delivered a speech via video.
The meeting highly affirmed the significance of RCEP's formal entry into force on January 1, 2022, and believed that the implementation of the agreement will effectively promote the integrated development of industrial chains, supply chains, and value chains in the region, greatly boost confidence in economic recovery under the background of the new crown pneumonia epidemic, and inject strong impetus into regional and even global trade and investment growth.
The meeting encouraged all parties to perform RCEP obligations at a high level, continue to improve the implementation effect of the agreement, promote the construction of the RCEP mechanism, deepen economic and trade cooperation among member states, create conditions for the business communities of all countries to seize the opportunities of RCEP, fully enjoy the policy dividends of the agreement, and contribute to the promotion of regional economic integration and the realization of long-term prosperity and development of the region.
Wang Shouwen said that the implementation of RCEP will help deepen regional economic and trade cooperation, consolidate the regional industrial chain supply chain, improve the level of trade and investment liberalization and facilitation, and build a more convenient and friendly regional business environment. China attaches great importance to the implementation of RCEP, promotes high-quality implementation of the agreement, and has adopted a series of measures to help enterprises better understand and use RCEP policies. We are willing to work with all parties to actively carry out exchanges and mutual learning to jointly improve the implementation effect of the agreement. It is hoped that all parties will make preparations for the opening of RCEP to new members 18 months after it takes effect in accordance with the agreement. China supports the centrality of ASEAN in RCEP and is willing to deepen economic and trade cooperation with all parties to promote the prosperity and development of regional economy and bring more benefits to regional enterprises and people.