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RCEP can be an economic recovery tool against Covid-19 - MITI KUALA LUMPUR (Nov 15): The Regional Comprehensive Economic Partnership (RCEP) can be an economic recovery tool against Covid-19, as it will help to ensure the opening of markets, as well as uninterrupted supply chain, according to Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.
The signing of the RCEP agreement today between Malaysia and 14 other participating countries, will facilitate cross border trade, investments and the easing of non-tariff measures, Azmin said in a statement today.
To Malaysian businesses, he said it will mean tariff elimination and reduction for merchandise goods including the facilitation of export and import of goods among the RCEP countries. Additionally, he noted that the RCEP will promote, facilitate and protect the investment climate of participating countries within the region.
Discuss any FIVE (5) benefits of RCEP on the selected sector (from group assignment) and the financial intermediaries in the provision of international trade financing instruments during the outbreak in Malaysia.
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