RCEP Ministerial Meeting Joint Declaration Released... Appeal to India That It Is "Open"

15 Trade Ministers Confirm Strengthened Joint Response to COVID-19 and Reaffirm RCEP Signing Within the Year

Yoo Myung-hee, Chief Negotiator of the Ministry of Trade, Industry and Energy. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Moon Chaeseok] Ministers from 15 countries, including South Korea, announced a joint declaration at the Regional Comprehensive Economic Partnership (RCEP) meeting. They also sent a message to India saying, "The door is open, come in."

Yoo Myung-hee, Director-General for Trade at the Ministry of Trade, Industry and Energy, attended the 10th RCEP Ministerial Virtual Meeting held on the 23rd. This was the first ministerial meeting held since the outbreak of the novel coronavirus disease (COVID-19).

Director-General Yoo delivered remarks as the representative of the AFP Coordinating Countries (non-ASEAN RCEP member countries), including South Korea, Australia, New Zealand, China, and Japan.

She emphasized, "It is important to sign the RCEP within this year and strengthen cooperation among participating countries to overcome the COVID-19 crisis and spread the value of free trade."

The ministers of the 15 countries issued a joint statement after the meeting. They mentioned, "India is an important participant in RCEP, and RCEP is open to India."

They reaffirmed their commitment to sign the RCEP within this year, as agreed at the leaders' summit last November, despite the COVID-19 situation.

They added that this is expected to send a positive signal to the global economy by restoring the weakened multilateral trade system and strengthening regional integration.

The 15 countries agreed to strengthen joint responses among participating countries to recover trade, investment, and global value chains (GVC) that have been weakened by COVID-19 and to enable sustainable growth.

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