The Regional Comprehensive Economic Partnership (RCEP) agreement will help to strengthen post-pandemic recovery efforts in the region, His Majesty Sultan Haji Hassanal Bolkiah said in an Asian forum on Tuesday.
In a pre-recorded titah at the opening plenary of the Boao Forum for Asia Annual Conference in China, the sultan said RCEP not only demonstrates the participating economies’ commitment towards advancing international trade, but will also drive Asia’s COVID-19 recovery.
Brunei and 14 other Asia-Pacific countries signed the China-led RCEP agreement last November to establish the world’s largest trading bloc, covering 30 percent of the global economy.
China is expected to lead the region in economic growth this year, with the World Bank projecting a 8.1 percent growth for the world’s second largest economy.
However, the growth rate of many Southeast Asian countries are predicted to remain at pre-pandemic levels in 2021.
As the ASEAN chair for 2021, His Majesty said Brunei is honoured to lead the region towards economic recovery.
Source: The Scoop
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
