KUALA LUMPUR: The Regional Comprehensive Economic Partnership (RCEP) Summit and the East Asia Summit which will see the attendance of major economic powers, will be the highlight of the 47th Asean Summit and Related Summits on Monday (Oct 27).
This is the fifth time the leaders of RCEP nations will hold a summit on the world’s largest trade pact.
RCEP is a gateway to a market of more than two billion people and the 15 participating countries account for about 30% of the world’s GDP.
It involves all 10 Asean members and five key partners, namely China, Japan, South Korea, Australia and New Zealand.
It came into force in 2022 and it aims to lower tariffs, boost investment and allow freer movement of goods within the region.
Hong Kong, Sri Lanka, Chile and Bangladesh have recently expressed interest in joining RCEP.
The East Asia Summit will involve all 19 participants namely the Asean Member States, Australia, China, India, Japan, New Zealand, Republic of Korea, Russian Federation and United States of America.
“The Summit will look back on the achievements of the EAS on its 20th anniversary and review the progress of the EAS cooperation, focusing on broad strategic, political and economic issues, with the aim of promoting regional peace, stability and prosperity in East Asia,” the Foreign Ministry said.
The Summit will also be attended by Brazil and South Africa in their capacity as the Chair of BRICS and G20 respectively.
The Republic of Korea and United Nations Summits will also be taking place today.
The 28th Asean Plus Three (APT) Summit is also scheduled for today.
The day will end with Prime Minister Datuk Seri Anwar Ibrahim hosting a gala dinner.
