The Chinese Foreign Ministry has re-iterated its firm stance on the joint promotion procedure surrounding Regional Comprehensive Economic Partnership (RCEP) negotiations.
Once accomplished, the RCEP become a 16-state free trade zone covering a population of 3.5 billion people – approximately 39 percent of the world’s population – and a combined Gross Domestic Product (GDP) of US$49.5tn.
Chan Chun Sing, a minister from the Singaporean Prime Minister’s Office, said in a recent interview that the top priority for ASEAN and China this year is to complete their RCEP negotiations. Chan mentioned that China, with its strong central government, is a significant partner, which can set higher standards for the world’s economic system by redistributing benefits more evenly across different regions.
