RCEP Chief Representatives Joint Declaration Released... "Working Together for India's Return"

Chief Delegation: "RCEP Signing Within the Year Crucial for Trade and Investment Recovery Amid COVID-19 Impact"
South Korea: "Reaffirming Commitment to RCEP Signing Within the Year... Urging India's Participation, Important Momentum for Negotiation Progress"

On the 29th at 10:30 AM, Yeohan Gu, Director General of Trade Negotiations at the Ministry of Trade, Industry and Energy, attended the "Regional Comprehensive Economic Partnership (RCEP) Chief Negotiators' Meeting" held in the seminar room of the HJ Business Center in Seoul. The meeting was attended by over 150 chief negotiators and delegations from the 15 RCEP member countries (10 ASEAN countries plus China, Japan, Australia, and New Zealand). In his greeting, Director General Ye emphasized the need for cooperation in responding to COVID-19 and then discussed concrete cooperation measures for signing the RCEP within the year. (Photo by Ministry of Trade, Industry and Energy)

[Asia Economy Reporter Moon Chaeseok] The chief representatives of the 15 member countries of the Regional Comprehensive Economic Partnership (RCEP) held a video conference and agreed to strengthen cooperation to restore intra-regional trade and investment, which have been contracted due to the COVID-19 pandemic. They also reaffirmed their commitment to work together on India's re-entry into RCEP.

According to the Ministry of Trade, Industry and Energy on the 30th, the RCEP chief representatives' meeting was held via video conference for nine hours starting at 10:30 a.m. the previous day. More than 150 chief representatives and delegations from 15 countries, including South Korea, the 10 member countries of the Association of Southeast Asian Nations (ASEAN), China, Japan, Australia, and New Zealand, participated. From South Korea, a delegation of about 10 members led by Yeohangu, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, attended the meeting.

The meeting was additionally convened to discuss in more detail India's re-entry plan into RCEP and the plan to sign the agreement within the year, which were discussed at the 29th official negotiations last week.

After the meeting, the chief representatives of the 15 countries emphasized in a joint statement that signing RCEP within the year has become even more important to restore intra-regional trade and investment negatively affected by COVID-19. They agreed to strengthen cooperation within the RCEP framework to overcome COVID-19.

Furthermore, the 15 countries reaffirmed their commitment to work together for India's re-entry into RCEP, in accordance with the agreement made at the 3rd RCEP Summit in November last year. They acknowledged India as an important participant in RCEP and stated that they would welcome India's return to RCEP.

Director-General Ye said, "Reaffirming the will to sign RCEP within the year despite the COVID-19 situation and urging India's participation will be an important momentum for future negotiation progress," adding, "We plan to continue holding video conferences to do our best to ensure that the signing of RCEP within the year proceeds smoothly."

This content was produced with the assistance of AI translation services.