Information Agency: The 5th gathering of Regional Comprehensive economical Partnership (RCEP) leaders ended. It took place in Kuala Lumpur – the capital of Malaysia. Li Qiang, Prime Minister of the People's Republic of China, participated.
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The Regional Comprehensive economical Partnership (RCEP) is the world's largest free trade zone, concluded in 2020 between 15 countries: 10 associate ASEAN (Brunei DarussalamThe Kingdom of Cambodia, Republic of Indonesia, the Lao People's Democratic Republic, Malaysia, the Republic of the Union of Myanmar, Republic of the Philippinesthe Republic of Singapore, Kingdom of Thailand and the Socialist Republic of Vietnam) and People's Republic of China, Japan Republic of Korea, the Australian Union, New Zealand. The aim of the association is to reduce customs duties, facilitate trade and investment and strengthen economical integration in the Asia-Pacific region.
Li Qiang: Openness, inclusiveness and cooperation beneficial to RCEPT
Li Qiang, Prime Minister of the People's Republic of China, said in his speech at the 5th gathering of the leaders of the Regional Comprehensive economical Partnership, in Kuala Lumpur, the capital of Malaysia: "Openness, inclusiveness and cooperation are a good way for all to develop. Since the entry into force of the Regional Comprehensive economical Partnership Agreement more than 3 years ago, despite the slowdown of the global economy, trade and economical cooperation between associate States has steadily deepened and the region's economy has maintained a comparatively fast pace of growth. The Regional Comprehensive economical Partnership played an indispensable function in this process, creating a space for joint development, providing economical safety mechanisms and a platform for innovative cooperation." “Li Qiang, Prime Minister of the People’s Republic of China, claims.
Uniteraryism and protectionism are increasing risks to the RCEP
Li Qiang, Prime Minister of the People's Republic of China, pointed out that the global trade environment is presently undergoing complex changes, with expanding uniteraryism and protectionism posing serious risks to the region. In this context, members of the Regional Comprehensive economical Partnership should cooperate more closely and face the challenges together.
Li Qiang: 3 directions for action
Li Qiang proposed 3 directions for action:
First,, with greater openness to build a large regional market. This means strengthening common marketplace links and promoting economical integration of the region, while speeding up the enlargement process and supporting applicants specified as the Hong Kong peculiar Administrative Region of the People's Republic of China, in their accession to the Regional Comprehensive economical Partnership.
Second, take more active action to advance quality improvement and modernisation of the agreement. The contractual commitments must be comprehensively and with advanced quality, actively aligned with global standards for economical and trade rules, and a greater breakthrough in cooperation in areas specified as marketplace access, public procurement, digital and green transformation, industrial and supply chains.
Thirdly, with even greater determination to defend the multilateral trading system. The Chinese side will proceed to support the central function Association of Southeast Asian Nations (ASEAN, acronym from the words Association of South-East Asian Nations), is ready to work with all parties to respect authentic multilateralism and jointly defend the stableness of the regional multilateral trading system. The People's Republic of China wants to combine wisdom and strength with another parties, advance more applicable results in cooperation within the Regional Comprehensive economical Partnership and together make a better future of common prosperity.
Regional Comprehensive economical Partnership – Meaning
The leaders of the countries participating in the 5th gathering of the leaders of the RCEP considered that, in the face of the increasing instability and uncertainty of the global economy and the weakening of the multilateral trading system, the Regional Comprehensive economical Partnership – as the largest free trade agreement in the planet – has since its entry into force importantly contributed to the liberalisation and facilitation of trade and investment in the region. The agreement strengthened the resilience of economical growth, the stableness of supply chains and the improvement of people-to-people contacts.
Exploring the possible of RCEP
The leaders of the countries participating in the 5th gathering of the Regional Comprehensive economical Partnership Leaders are convinced that it is worth making efforts to further strengthen cooperation mechanisms, actively grow membership, make fuller usage of the possible of RCEP and accomplish concrete results in areas specified as trade, investment, innovation and the digital economy. The request to defend the free, equitable and open multilateral trade system, which would foster the economical transformation of the countries of the region and their sustainable and inclusive development, has besides been identified. At the end of the meeting, a Joint message of the leaders of the RCEP was adopted.
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AI World, China DEC November 1, 2025
