China's Foreign Affairs Ministry Hails Singapore's RCEP Statement
Xu Wei
DATE:  Jan 31 2018
/ SOURCE:  Yicai
China's Foreign Affairs Ministry Hails Singapore's RCEP Statement China's Foreign Affairs Ministry Hails Singapore's RCEP Statement

(Yicai Global) Jan. 31 -- China's foreign affairs ministry yesterday welcomed a statement by Chan Chun Sing, the Minister in the Prime Minister's Office of Singapore, last week regarding the Regional Comprehensive Economic Partnership (RCEP), and said China is eager to enhance communication and coordination with all relevant parties in an effort to finish the RCEP negotiations as soon as possible and contribute to regional economic integration.

Completing the RCEP negotiation is the top priority for the Association of Southeast Asian Nations (ASEAN) and China this year. Singapore has high expectations for the RCEP and believes that once talks successfully wind up, the accord will set a higher standard for the global economic system and show the world that a highly open free-trade system can benefit all stakeholders. China has a very strong central government, so it will do well in this regard and ensure more even distribution of gains across regions, said Chan on Jan. 25 while attending the World Economic Forum in Davos, Switzerland.

"We've noted the statement by Minister Chan Chun Sing made, and we welcome it. RCEP is one of the most important free-trade negotiations in the Asia-Pacific region, and once the negotiations successfully conclude, this will create a free-trade zone that encompasses the largest population and the most diverse members, with the most dynamic development in the world. Implementing RCEP as soon as possible will help enhance confidence in regional and global economic development and advance the process of the Free-Trade Area of the Asia-Pacific," said Hua Chunying, a spokesperson for China's Ministry of Foreign Affairs, at a regular press conference yesterday.

"China has always highly valued the RCEP negotiations and firmly supports ASEAN's leading role in this process. We are willing to enhance communication and coordination with all relevant parties, including Singapore, to implement the consensus reached during the first RCEP leaders meeting in November last year, to finish the negotiations as soon as possible, and to contribute to regional economic integration," Hua said.

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Keywords:   RCEP,ASEAN,Singapore