Glad to be back in Bangkok for the #ASEANSummit and Related Summits.
Since our last meeting in June, the global outlook has taken a decidedly gloomy turn. The economy has weakened and business confidence is down. Support for globalisation and multilateralism continues to weaken.
Each ASEAN Member State has our own domestic preoccupations. But this global backdrop has made it more urgent than ever for ASEAN to come together, deepen cooperation, and counter these unfavourable external trends. We must speak on issues that concern us with one voice, not just the economy, but also the environment and security challenges. We can only make progress on these priorities if our region continues to enjoy peace and stability.
ASEAN leaders will be meeting several of our partners over the next couple of days. We must intensify our integration efforts and uphold a free, open and rules-based multilateral trading system. – LHL
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aseansummit 在 Lee Hsien Loong Facebook 八卦
The Regional Comprehensive Economic Partnership (RCEP) negotiations achieved a very significant milestone at the #ASEANSummit in Bangkok.
15 of the RCEP participating countries have concluded text-based negotiations for all 20 chapter texts, and essentially all their market access issues. The countries have agreed to resolve the few outstanding market access issues by the end of the year. If all goes well, we should be able to officially sign the RCEP Agreement next year in Vietnam.
India has decided not to join the RCEP. PM Modi explained his position forthrightly at the RCEP Summit. We fully understand and respect India’s decision, though we hope one day India will decide to come on board.
My thanks to the combined efforts of Ministers and negotiators from all participating countries who have worked so hard on this agreement! In particular, I would like to thank the Trade Negotiating Committee Chair, Pak Iman Pambagyo from Indonesia, who has seen this through since day one, and the ASEAN Secretariat for its strong support. ASEAN’s involvement as a trusted, neutral group, has played a critical role in this journey, enabling many countries to come together and cooperate under the umbrella of the RCEP. This is the value of ASEAN Centrality that we put so much store on.
At a time when multilateralism is losing ground, and global growth is slowing, the RCEP is a major positive step. I look forward to the RCEP’s timely implementation, which will enhance the prosperity and security of our countries and peoples. – LHL
aseansummit 在 Lee Hsien Loong Facebook 八卦
Spent a pleasant evening with leaders, their spouses and other guests at the #ASEANSummit gala dinner last night.
Also met up with India PM Narendra Modi and IMF Managing Director Kristalina Georgieva before and after dinner.
A full day of meetings ahead today. – LHL
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