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ASEAN should ratify RCEP soon to boost economic recovery: Singaporean PM

ASEAN should ratify RCEP soon to boost economic recovery: Singaporean PM

26 Oct 2021

Singaporean Prime Minister Lee Hsien Loong called on relevant parties to soon ratify the Regional Comprehensive Economic Partnership (RCEP) to contribute to the region’s post-pandemic economic recovery while addressing the 38th ASEAN Summit on October 26.

Given the difficult times caused by the COVID-19 pandemic, the Singaporean PM noted the need to work even harder on economic integration, and ratify the RCEP, Vietnam news agency (VNA) reported.

According to him, the agreement will boost confidence in regional trade and investment and contribute significantly to the region’s post-pandemic economic recovery.

“I look forward to the swift ratification of the RCEP by all ASEAN Member States and partners, for the agreement to enter into force by January 2022 as planned.”

ASEAN countries must also progressively re-open its economies and resume safe travel as they bring COVID-19 under control, VNA reported Lee added. This, he said, is an important aspect of living with COVID-19.

With the COVID-19 pandemic remaining a key challenge after two years, ASEAN nations must work together to improve access to vaccines, added Lee.

“As co-chair of the Friends of the COVID19 Vaccine Global Access (COVAX) Facility, Singapore is strongly committed to vaccine multilateralism and fair and equitable access to COVID-19 vaccines for all countries,” he affirmed.

Source: Bernama