Kuala lumpur: Malaysia will reinforce ASEAN’s central role in guiding the Regional Comprehensive Economic Partnership (RCEP)’s implementation as the country prepares to host the 5th RCEP Leaders’ Meeting slated to take place on October 27 on the sidelines of the 47th ASEAN Summit.
According to Lao News Agency, speaking at the closing ceremony of the DHL GoTrade Summit 2025 in Kuala Lumpur, Malaysian Prime Minister Datuk Seri Anwar Ibrahim highlighted that for ASEAN, RCEP represents more than an economic arrangement; it stands as a strategic affirmation that open regionalism remains the pathway to shared prosperity. Malaysia aims for RCEP to serve not only the interests of large multinational corporations but also to provide tangible benefits to small and medium enterprises (SMEs), workers, and communities.
The success of RCEP, as emphasized by the PM, will rely on ASEAN’s capacity to translate commitments into opportunities. This involves addressing non-tariff barriers, enhancing trade facilitation, and ens
uring the full integration of the digital economy, green transition, and services sectors into the framework. Anwar stressed the importance of promoting a vision of deeper integration, urging ASEAN and the global community to pay more attention to RCEP, the world’s largest trade agreement, contributing nearly a third of global GDP and trade.
RCEP member countries include ten ASEAN nations and free trade agreement partners such as China, Japan, the Republic of Korea, Australia, and New Zealand. Anwar noted that ASEAN’s continued openness and unity are crucial to sustaining its role as a global manufacturing hub and a fast-growing market of 680 million people. In the next five years, ASEAN is projected to become the world’s fourth-largest economy, a growth attributed to the region’s commitment to free and fair trade.
Malaysia aims to bolster its position as a trusted investment hub while ensuring local enterprises and start-ups are not left behind. The country continues to support SMEs through expanded guaran
tees and financing facilities, facilitating their innovation, digitalization, and competitive presence in global markets. Anwar also emphasized that trade and growth should be guided by technology, sustainability, and inclusivity.