Malaysia Plans RCEP Summit in October to Reinforce Asia Trade Openness

Malaysia's Prime Minister Anwar Ibrahim announced plans to convene a Regional Comprehensive Economic Partnership (RCEP) summit in October alongside the 47th Asean Summit to reaffirm Asia's commitment to free and open trade amid rising global protectionism. The RCEP, which includes 15 countries such as the 10 Asean nations, China, Japan, South Korea, Australia, and New Zealand, represents the largest free-trade area globally, covering 30% of world GDP. Anwar emphasized that the summit aims to accelerate the implementation of trade policies and renew political energy behind the agreement, which should not remain merely a legal text. He also highlighted the importance of regional cohesion, policy coordination, and investment to build resilience against economic disruptions caused by unilateral actions like US tariffs and sanctions. The upgraded Asean-China Free Trade Area 3.0, which embraces digital economy, green growth, and supply chain connectivity, will be presented at the summit, reflecting the modern realities of trade and prosperity. Anwar's call positions Asia as a leader in openness and regional cooperation despite global economic uncertainties and challenges.