ASEAN’s centrality is reflected in RCEP negotiations through the voices of the 10 ASEAN, and Vietnam has a great role to play as the country has joined a number of free trade agreements, with the one between the EU and Vietnam (EVFTA) to take effect next month, he highlighted.

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The virtual 10th Regional Comprehensive Economic Partnership Intersessional Ministerial Meeting took place in Hanoi this June.

He added that the signing of the RCEP will promote Vietnam’s image as an advocate of free trade, thereby attracting more foreign direct investment to the country.

RCEP was initiated in November 2012, aiming to establish an economic platform between the 10 ASEAN member states and Australia, China, India, Japan, New Zealand and the Republic of Korea, focusing on trade in goods, services and investment.

If signed, the deal will create the world’s largest free trade area with a nearly 3.5 billion population and account for 30 percent of the world’s gross domestic product, much bigger than the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Source: VNA