Malaysian Prime Minister Muhyiddin issued a statement on the “Regional Comprehensive Economic Partnership Agreement” (RCEP) signed on that day, highly appraising the importance of the agreement and its positive effect on the future regional economic development.
The statement pointed out that RCEP will become the main tool for realizing the Free Trade Agreement (FAT); it will also be the touchstone of the future growth and vitality of regional economic cooperation. The 15 signatories of RCEP should unite to strengthen regional economic integration of free trade and effectively improve the lives of people in this region, which accounts for about one third of the world’s population.
The statement emphasized that Malaysia believes that the RCEP agreement is essential to the region’s response to Coronavirus pandemic. Malaysia firmly believes that RCEP can be used as one of the tools of economic recovery. The implementation of the agreement will encourage the reopening of the market and ensure that the supply chain will not be interrupted.