Kuala Lumpur, March 18 — The Regional Comprehensive Economic Partnership (Rcep) Agreement Comes Into Force For Malaysia Today, Paving The Way For The Country To Integrate Into The World’s Largest Free Trade Agreement (Fta) That Involves 15 Countries, With A Total Population Of More Than 2.2 Billion.

Malaysia has become the 12th country to ratify the regional comprehensive economic partnership (rcep) agreement after malaysia's instrument of ratification (ior) ior had been successfully submitted to the asean secretariat on 17 january 2022. With this, malaysia will become the 12 th signatory country on 18 march 2022 to implement the rcep agreement, joining singapore, china, japan, brunei, cambodia, laos, thailand, vietnam, australia, new zealand and south korea that have completed the ratification process. Malaysia joins australia, brunei, cambodia, china, japan, laos,.

The Rcep Would Provide Growing Opportunities For Foreign Companies And Domestic Companies In Positioning Malaysia As A Growing Hub For Economic Activities, And Be Part Of The Growing Global Value.

Malaysia is poised to be the 12th signatory to implement the regional comprehensive economic partnership (rcep) agreement by march. The rcep represents a significant milestone in the vibrant growth and revitalisation of economies, said the international trade and industry ministry (miti). The regional comprehensive economic partnership (rcep) is a free trade agreement (fta) between the ten member states of the association of southeast asian nations (asean) (brunei, cambodia, indonesia, laos, malaysia, myanmar, the philippines, singapore, thailand, vietnam) and its five fta partners (australia, china, japan, new zealand and republic of korea).

The International Trade And Industry Ministry (Miti) Said The Pandemic Has Underscored The Paramount Importance Of International.

The rcep negotiations was launched in november 2012 at the 21st asean summit in phnom penh, cambodia but the negotiations only formally started in 2013. Malaysia on 18 march 2022 will become the 12 th signatory country to implement the regional comprehensive economic partnership (rcep) agreement. Ratifying the rcep to reset malaysia’s economy.

Regional Trade Opportunities For Malaysia.

The 15 member countries account for about 30% of the world's population (2.2. This was after malaysia's instrument of ratification (ior) had been submitted to the asean secretariat on january 17 this year, according to the international trade and industry ministry. Initially, rcep was negotiated by 16 countries, consisting 10 asean member states (ams) and asean’s free trade area (fta) partners or better known as afps.

This Enables The Country To Enjoy The Global Trade, Investment Ecosystem.

The regional comprehensive economic partnership is a priority. Economists agree that malaysia will benefit from rcep. Rcep is essentially the world’s largest free trade agreement that serves as an overarching mechanism for free trade among the participating countries with a unified set of rules and procedures for accessing preferential tariffs across the region.