At the consultations between ASEAN economic ministers and their counterparts from the US, China, Russia, India, East Asia and the Regional Comprehensive Economic Partnership (RCEP) Ministers' Meeting in Semarang city, Indonesia, on August 21, Vietnam offered feedback to strengthen regional supply chains and foster sustainable economic development.
The RCEP Ministers’ Meeting welcomed the entry into force of the RCEP Agreement for Indonesia and the Philippines.
The ministers endorsed the Terms of Reference of the RCEP Support Unit (RSU) and the Funding Arrangement of the RSU, thus laying a foundation for its establishment and promoting the effective implementation of the deal in the future.
On the sidelines of the event, officials also witnessed the signing of the Second Protocol to Amend the ASEAN-Australia-New Zealand Free Trade Agreement among Indonesia (ASEAN Chair 2023), Brunei (ASEAN Coordinator for ASEAN-Australia-New Zealand Economic Relations), Australia, and New Zealand. The remaining countries are expected to sign the protocol sequentially after completing their domestic procedures.
