Symposium in Thailand calls for leveraging RCEP for regional market

BANGKOK, Aug. 28 (Xinhua) — Some 40 experts and representatives from China and Southeast Asian countries have gathered here to share insights on leveraging the Regional Comprehensive Economic Partnership (RCEP) to build a high-level regional market.
Organized by the Boao Forum for Asia (BFA), the Hainan-based China Institute for Reform and Development (CIRD), along with the Hainan Institute for Free Trade Port Studies, the symposium held Tuesday went under the theme “RCEP: New Future for Asia’s Economy.”
In his opening address, Secretary General of the BFA Zhang Jun noted that RCEP bears significance for regional economic integration, staying in line with the common interests of Asian countries.
He also called for a favorable policy environment, sound basic support, improved connectivity and better mechanism construction to push RCEP forward into a higher level of free trade agreement.
Chi Fulin, head of CIRD, highlighted RCEP’s emerging role in promoting regional cooperation and enhancing the region’s economic resilience and risk resistance, adding that the next few years will be critical for its implementation, which requires joint efforts from all parties.
Keomorakoth Sidlakone, assistant to Minister of Industry and Commerce of Laos, noted that RCEP has brought many benefits to his country, creating new opportunities and improving the economic structure. Yet the implementation still faces challenges such as inconsistency in economic development and regulatory standards among members.
Yose Rizal Damuri, executive director of Indonesia’s Center for Strategic and International Studies, called on RCEP members to build trust and cooperation through diplomatic efforts, accelerate the construction of relevant mechanisms, and determine specific tasks and goals.
Jittima Nakamano, director of the ASEAN Economic Community Bureau under the Thai Department of Trade Negotiations, noted that Thailand has made good progress in implementing RCEP. At the same time, the public sector needs to strengthen the utilization of RCEP rules, and the private sector should be encouraged to participate in RCEP through various government projects. ■