KUALA LUMPUR, Oct 1 (Bernama) -- Malaysia participated in the 28th Trade Negotiating Committee (TNC) meeting for the Regional Comprehensive Economic Partnership (RCEP) in Da Nang, Vietnam, from 19-27 September 2019.

The Malaysia delegation was led by MITI with senior government officials from relevant ministries and agencies. TNC members comprise the negotiating officials of RCEP member countries.

Since July 2018, the RCEP negotiations have concluded 9 chapters as follows:

i. Customs Procedure and Trade Facilitation (CPTF);
ii. Institutional Provisions;
iii. Government Procurement;
iv. Standards, Technical Regulations and Conformity Assessment Procedures (STRACAP);
v. Sanitary & Phytosanitary (SPS);
vi. Telecommunication Services (TEL);
vii. Intellectual Property Rights (IPR);
viii. Legal and Institutional Issues (WGLII); and
ix. Trade in Goods (TIG).

Recently at the 74th Session of The United Nations General Assembly, Prime Minister YAB Tun Dr Mahathir Mohamed emphasised that Malaysia would continue to be a trading nation focused on industrialisation and job creation.

In relation to that aspiration, Malaysia’s participation in RCEP is based on solidarity with ASEAN and the belief in fair trade, mutually beneficial to all countries involved. This includes taking into consideration domestic sensitivities, constitutional constraints and different levels of economic development.

Malaysia fully shares the aspiration of ASEAN member countries to achieve the conclusion of RCEP and deepen regional integration with ASEAN’s economic partners. Minister of International Trade and Industry YB Datuk Darell Leiking expressed optimism that the negotiations could be concluded by the end of 2019. He was confident that outstanding matters such as market access would continue to enjoy progress and would not hold back announcement of a substantive conclusion to RCEP talks in November 2019.

RCEP was launched in November 2012 at the 21st ASEAN Summit in Cambodia. This agreement involves 16 countries, consisting 10 ASEAN Member States (AMS) and ASEAN’s Free Trade Agreement (FTA) Partners (AFPs) namely Australia, China, India, Japan, Korea, as well as New Zealand. RCEP is an ASEAN-led initiative. Once implemented, RCEP Members can expect an increase in production and economic welfare gains.

Ministry of International Trade and Industry
1 October 2019

About MITI:

The Ministry of Commerce and Industry was established in April 1956 then was renamed as The Ministry of Trade and Industry in February 1972. On 27 October 1990, the Ministry was separated into two Ministries which are; Ministry of International Trade and Industry (MITI) and Ministry of Domestic Trade and Consumer Affairs (KPDN).

MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation's rising status as a globally competitive trading nation.

SOURCE : Ministry of International Trade & Industry

FOR MORE INFORMATION, PLEASE CONTACT:
Ministry of International Trade & Industry
Strategic Communications Unit
Tel : +603 6200 0083
Fax : +603 6206 4293
E-mail : allpegkomunikasikorporat@miti.gov.my

--BERNAMA