PRIME MINISTER Datuk Seri Anwar Ibrahim has hailed the 5th Regional Comprehensive Economic Partnership (RCEP) Summit as a landmark gathering, marking the first in-person meeting of member states since the historic trade pact was signed in 2020 during the Covid-19 pandemic.
Speaking at the opening session, held on the sidelines of the 47th Asean Summit, Anwar said RCEP had proven its worth as a driver of post-pandemic recovery and resilience.
“This summit is a pivotal moment for us. It underscores the enduring importance of RCEP in fostering shared prosperity and cooperation across the Asia-Pacific,” he said.
RCEP, the world’s largest free trade bloc, brings together 15 Asia-Pacific nations, encompassing about 30 per cent of global gross domestic product — equivalent to US$25.9 trillion (RM109.6 trillion) — and population.
The pact aims to deepen regional economic integration, streamline trade, and strengthen supply chains.
Beyond tariff reductions and harmonised trade rules, RCEP promotes collaboration in e-commerce, intellectual property, and small business development, solidifying Asia’s position as a key engine of global growth.
Earlier, Chinese Premier Li Qiang, addressing the 28th Asean+3 Summit, called on East Asian nations to preserve the region’s long-standing spirit of open cooperation, which he said had underpinned decades of economic success.
He noted that collaboration between ASEAN, China, Japan and South Korea had shown “positive momentum” over the past year, reflecting East Asia’s resilience and efficiency despite mounting global challenges.
Li warned, however, that the region faces growing uncertainty amid shifts in global trade dynamics and the rise of protectionist measures.
“The complex changes in global trade have intensified the economic challenges facing East Asia, while instability and competition continue to increase,” he said.
Reflecting on East Asia’s economic evolution — from Japan’s post-war rise and the emergence of the Four Asian Tigers to China’s rapid growth following its reform and opening-up — Li said history had proven that openness and cross-border cooperation were the foundations of success.
“For decades, we have overcome differences in social systems and built cooperation based on our respective strengths. This is the secret of our success,” he said.
He added that China remained committed to deepening regional cooperation. “China stands ready to strengthen development strategy coordination, maintain openness, and take pragmatic actions to create new achievements for East Asia’s development,” Li said. - October 27, 2025
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