22 November 2015
President Benigno S. Aquino III together with the rest of the leaders from the Association of Southeast Asian Nations (ASEAN) and its Free Trade Agreement Partners issued a Joint Statement on the Regional Comprehensive Economic Partnership (RCEP) Negotiations on the final day of the 27th ASEAN Summit and Related Summits in Kuala Lumpur.
Among the objectives of the RCEP negotiations are the following:
1) achieve a modern, comprehensive, high-quality and mutually beneficial economic partnership agreement establishing an open trade and investment environment in the region to facilitate the expansion of regional trade and investment and contribute to global economic growth and development;
2) boost economic growth and equitable economic development, advance economic cooperation, and broaden and deepen integration in the region through the RCEP, which will build upon existing economic linkages
The ASEAN Member States’ Free Trade Agreement Partners in RCEP include Australia, China, India, Japan, Republic of Korea and New Zealand.
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