President Moon to Attend ASEAN Video Conference on the 12th: "Signing Ceremony of the World's Largest Free Trade Agreement"

Attended 5 ASEAN-related meetings to discuss... "Investment activation and export market diversification, opportunities for our companies"

[Asia Economy reporters Ryu Jeong-min and Son Seon-hee] President Moon Jae-in will attend five ASEAN (Association of Southeast Asian Nations)-related meetings held via video conference from the 12th to the 15th.

Due to the issue of the novel coronavirus infection (COVID-19), these meetings will be conducted as video conferences rather than face-to-face gatherings. The five summits President Moon will attend include the Korea-ASEAN Summit, the 2nd Korea-Mekong Summit, the ASEAN+3 Summit, the East Asia Summit, and the Regional Comprehensive Economic Partnership (RCEP) Summit.

[Image source=Yonhap News]

Kang Min-seok, the Blue House spokesperson, stated in a briefing at the Press Center on the 10th, "Especially at the RCEP Summit on the 15th, a signing ceremony is scheduled for RCEP, the world's largest mega free trade agreement (FTA)." He explained, "The Regional Comprehensive Economic Partnership is a free trade agreement involving 15 countries, including the 10 ASEAN member states, South Korea, China, Japan, Australia, and New Zealand."

This agreement, covering one-third of the world's population, is the largest of its kind, and the signing ceremony will be held following the conclusion of negotiations.

Spokesperson Kang said, "Once the world's largest free trade agreement is implemented, it is expected to open new opportunities for our citizens and companies through the activation of trade and investment and diversification of export markets."

At the RCEP Summit, President Moon is expected to emphasize the importance of free trade and call for expanding cooperation across all fields, including social and cultural sectors, based on economic cooperation.

Additionally, at the four ASEAN-related summits, President Moon plans to express his commitment to actively participate in international solidarity for overcoming the COVID-19 crisis through health and quarantine cooperation and for the prompt economic recovery within the region.

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