RCEP Free Trade Bloc to Mull Membership Expansion

Kuala Lumpur, Sept. 26 (Jiji Press)–The 15 member states of the Regional Comprehensive Economic Partnership free trade bloc have agreed to consider expanding its membership. The agreement was reached at the fourth RCEP ministerial meeting in Kuala Lumpur, Malaysia, on Thursday. The RCEP nations, including Japan, China and the 10 members of the Association of Southeast Asian Nations, is expected to confirm the agreement at a summit to be held in Malaysia in late October. It will be the first RCEP summit since the trade deal took effect in 2022. Sri Lanka, Chile, Bangladesh and Hong Kong hope to join RCEP. At Thursday’s ministerial meeting, the RCEP Joint Committee was tasked “to proceed with the consideration of the request for accession,” a joint statement said. Malaysian trade minister Tengku Zafrul Aziz told reporters that RCEP members agreed to hold a summit. He added that most members are positive toward membership expansion and that the rest depends on a decision at the summit. Japanese trade minister Yoji Muto attended the ministerial meeting, serving as co-chair with Indonesian Vice Trade Minister Dyah Roro Esti. “I think it’s good to increase members based on strict rules,” Muto told reporters after the conference. END [Copyright The Jiji Press, Ltd.]