KUALA LUMPUR (Reuters) -Hong Kong, Sri Lanka, Chile and Bangladesh are searching for to affix the China-backed Regional Complete Financial Partnership, the world’s largest commerce bloc, Southeast Asian officers mentioned on Thursday.
The RCEP at present consists of China, Japan, South Korea, Australia, New Zealand and all ten members of the Affiliation of Southeast Asian Nations.
RCEP officers, who’re assembly on the sidelines of a gathering of ASEAN commerce and financial ministers in Malaysia this week, mentioned that they had few objections to accepting new candidates and can work in direction of bringing the 4 economies into the bloc.
“We’re after all in help of any international locations which can be keen to affix the RCEP,” Indonesia’s Vice Minister of Commerce Dyah Roro Esti Widya Putri advised reporters in Kuala Lumpur.
Malaysia’s commerce minister Tengku Zafrul Aziz mentioned any determination on new RCEP members will probably be mentioned when the bloc’s leaders meet for the primary time in 5 years in October.
Tengku Zafrul has beforehand mentioned the RCEP would search to improve a commerce deal it signed in 2020 in the course of the October summit.
Some analysts have described the RCEP as a possible buffer in opposition to tariffs imposed by the USA, although its provisions are thought-about weaker than another regional commerce offers on account of competing pursuits amongst its members.
(Reporting by Danial Azhar; Writing by Rozanna Latiff; Modifying by David Stanway)
