KUALA LUMPUR, Nov 4 — Malaysia, as Asean chair, has revived the implementation of the Regional Comprehensive Economic Partnership (RCEP) to strengthen its position as a major trading nation and leverage cross-border trade opportunities in the region, said Prime Minister Datuk Seri Anwar Ibrahim.
This is part of Malaysia’s efforts to boost regional economic integration by playing an active role in both Asean and the Asia-Pacific Economic Cooperation (APEC).
“This programme of regional cooperation is important, with Malaysia being a trading nation. So, apart from Asean and APEC, we are also enhancing the RCEP, which we consider important,” he said during the Minister’s Question Time in the Dewan Rakyat today.
Anwar was responding to Kubang Pasu MP Datuk Ku Abd Rahman Ku Ismail's query on what Malaysia achieved from the recent APEC Economic Leaders’ Meeting (AELM) in South Korea.
He added that the RCEP's renewed implementation would open up greater trade and investment opportunities among member countries, while also boosting Malaysia’s competitiveness in the global supply chain.
Malaysia’s active participation in major regional agreements, such as RCEP and APEC, enables it to gain greater market access and strengthen its export position.
“For Malaysia, 80 per cent of our total trade is with APEC countries. Therefore, we must place an emphasis on this. It is about our nation’s survival.
“RCEP provides a stable and mutually beneficial trade framework between Asean economies and external partners, reducing our dependence on a single market,” Anwar said.
The fifth RCEP Summit, which was convened in Kuala Lumpur last month, was the first leaders’ meeting since the trade pact entered into force on January 1, 2022, and also the first since the signing ceremony at the fourth RCEP Summit in 2020.
Besides Asean member states, RCEP members include Australia, China, Japan, South Korea, and New Zealand.
