Premier urges RCEP signatories to ramp up ratification process

Premier Li Keqiang has urged participating countries in the Regional Comprehensive Economic Partnership to hasten the rectification process of the trade pact as early as possible, and continue to advance free trade and higher-level integration.

Speaking at the annual ASEAN-China, Japan and ROK leaders” meeting via video link, Li noted as a signature outcome of East Asian cooperation, the RCEP will soon reach the threshold of entry into force.

China completed the approval process of the trade deal in April and became the first country to ratify the trade deal.

The RCEP, signed by 15 participating countries including ASEAN member states, China, Japan and South Korea last year, represents the world’s largest free trade agreement, covering a third of the global population and 30 percent of the world’s GDP.

The nation will host capacity-building programs such as personnel training and experience sharing on RCEP implementation for interested governments, business chambers or associations and companies of ASEAN countries, he said.

He added China will also organize a symposium for high-standard implementation of the trade pact next year and will welcome the active participation of all sides.