The Regional Comprehensive Economic Partnership (RCEP) should be signed early as it is good for all signatories, including the Republic of Korea (RoK), Director of the RoK’s Asan Institute for Policy Studies’ Center for ASEAN and Oceania Studies Lee Jae-hyon told the Vietnam News Agency.
Lee Jae-hyon, Director of the Republic of Korea’s Asan Institute for Policy Studies’ Center for ASEAN and Oceania Studies, in the interview granted to the VNA (Photo: VNA)
Seoul (VNA) - The RegionalComprehensive Economic Partnership (RCEP) should be signed early as it is good forall signatories, including the Republic of Korea (RoK), Director of the RoK’s Asan Institute for Policy Studies’ Center for ASEAN and Oceania StudiesLee Jae-hyon told the Vietnam News Agency.
The agreement will bolster the RoK’s economy, asit depends very much on trade.
The RCEP is an achievement of the RoK’s NewSouthern Policy, removing trade barriers between ASEAN member states and theRoK.
It is also helpful in easing the impact of theCOVID-19 pandemic, he added.
He went on to say that the RoK’s Ministry ofTrade, Industry and Energy is striving to have the agreement signed this year.
It is expected to be inked on November 15within the framework of the 37th ASEAN Summit and related meetings.
The RCEP was initiated in November 2012 and aimsto establish an economic platform between the 10 ASEAN member states andAustralia, China, Japan, New Zealand, and the RoK by focusing on trade ingoods, services, and investment.
If signed, it will be the largest free tradeagreement in the world, covering about 30 percent of the world’s population andcontributing nearly one-third (29.3 percent) to global GDP./.
The signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement will be the central outcome of the 37th ASEAN Summit and Related Meetings, held virtually by host Vietnam on November 9-15, Malaysia’s International Trade and Industry Ministry (MITI) said in a recent statement.
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Although the COVID-19 pandemic has interrupted the global supply chain and hurt regional economies, it may become a driving force for the signing of the Regional Comprehensive Economic Partnership (RCEP), said Chheang Vannarith, President of the Cambodian-based Asian Vision Institute (AVI).
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Lee Jae-hyon, Director of the Republic of Korea’s Asan Institute for Policy Studies’ Center for ASEAN and Oceania Studies, in the interview granted to the VNA (Photo: VNA) 
