ASEAN leaders sign RCEP Agreement to enhance trade investment in the region

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Thai PM Prayut Chan-o-cha participated in the 4th Regional Comprehensive Economic Partnership (RCEP) in addition to the 37th ASEAN Summit via teleconference.

Vietnam PM Nguyen Xuan Phuc said the meeting was a result of a succesful free trade agreement between the 15 RCEP countries.

The RCEP representatives were delighted to see the efforts of the member countries to cooperate in the huge promotion of free trade over a period of eight years.

PM Prayut Chan-o-cha said he was very pleased with the signing of the RCEP marking a historic free trade agreement, albeit knowing that member countries are currently facing many challenges of economic progress amidst the Covid-19 situation.

PM Prayut also stressed that the RCEP is the world’s largest free trade incorporation and has implications for enhancing the competitiveness and commercial interests of all countries involved.

This gives member countries the ability and flexibility to cope with future economic challenges. It will also be a tool in driving the world economy towards more free trade.

Source: Business Today

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