RCEP Summit on the Cards for Malaysia
Malaysia's PM Anwar pushes for RCEP leaders' summit to assess, accelerate, and show Asia can lead on free trade as others do the opposite
Kuala Lumpur is set to host a summit for leaders of the world's largest trade bloc, with Malaysian Prime Minister Anwar Ibrahim aiming to fast-track regional economic goals.
Malaysian media outlet The Star reported on Wednesday (27th Aug) that as current chair of ASEAN, Malaysia plans to host a meeting for leaders of the Regional Comprehensive Economic Partnership (RCEP) in October.
The gathering will coincide with Malaysia's existing schedule of regional leaders' meetings for the month.
According to the report, Prime Minister Anwar stated that the summit's purpose is to "assess the situation, accelerate implementation, and demonstrate that Asia can lead in free trade even when others do the opposite."
The RCEP is the world's largest trade bloc and is backed by China.
It includes 15 member nations across the Asia-Pacific, such as Australia, Japan, South Korea, New Zealand, and the 10 member states of the Association of Southeast Asian Nations (ASEAN).
Enforced in 2022, the RCEP agreement aims to reduce tariffs, encourage investment, and promote the freer flow of goods among its members.
